Man of Honour
Find a new host and update the DNS, yes. Or see if you can get a transfer included with the new hosting and go for that, then you get a year's extra registration too, as Adz mentioned.
Adz said:Who is the host?
Adz said:OT but Easyspace were actually my first ever paid hosting provider in ~1999! I think I paid around £500/year for the privilege too.
robmiller said:Quick vaguely related question: do Nominet or whoever send email/snail mail alerts when your domain is about to expire? I have around 5 domains, all registered at different times, and I just know I'll forget when at least one of them expires.