MegaSack DRAW - This year's winner is user - rgwb
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My first 2 years on my first mortgage is ending in November and I'm planning to switch provider once the introductory 2 year period is over. How long in advance do I need to start thinking about and contacting lenders to complete the switch on time?
Right about now is perfect, most lenders will secure the product for you once you apply, for perhaps 3 or 4 months, in that time if rates come down then you can still apply. Start enquiries with your present lender as they already hold charge it will be least amount of faffing to get a new rate. Consider increasing your payment to lower your term, every month saved is that amount in your pocket!
dont just consider headline rate either.
i found my house was getting valued at 60k over other lenders by my current lender (ie give me a better rate - it moved me onto their highest LTV rating which no new lender would better)
Worked for me - the house is still only worth the same as it was and im still overpaying but im paying less % on what i owe.
I'd make sure it ends in November - my first 2 year fix only lasted 18 months as they picked the date from agreement in principle date, rather than exchange date
Why do you want to switch provider?
Is your current definitely not the best?