[Closed] Remortgaging Advice

for ease of process I'd ring your current lender and ask what they've got, you've likely left it a bit too late to get another lender sorted by the end of this month. Remortgaging to another lender usually takes about 2 months but much less than this if staying with same lender as no sols to include. Your lender will likely be able to value your house and they may charge for that, maybe about £100 or abouts or maybe even free!

we did ours with First Direct (who are HSBC) and were great at their end. The conveyancer was utter crap though so if you need anything done go with one you trust.

literally just done mine today with Nationwide.  They allow you to select a new product on line and complete all of the application and get it confirmed in all of about 10 mins, well surprised - they didn't need anything other mortgage number.

However.... I didn't agree with the valuation that their computer gave me as it gave a crap loan to Value rate, and therefore the interest rate they would offer. So called them, gave them a couple of details and within 48 hours they phoned back and agreed with the valuation (way over tbh) which gave me an excellent LTV and allowed me to complete the online switch..

piece of cake.

In contrast, i paid a broker 6 months ago a lot of money to go and sort something out and they were utterly f''''''g useless, i suppose great for people without 2 brain cells to knock together, but that's it..

"Our current 5 year fixed is coming to an end at the end of the month. Not sure whether I should find a local advisor or just go see HSBC who are current bank (apparently their rate are good)."

What sort of deal will you be moving onto?  When my fixed rate deal ended 7 years ago I stayed on the default variable (1.49% above base) as frankly it was, and remains, better than any other deal I could get.  Re mortgaging may not be your best option.

@gonefishin-that's potentially true now but what happens if in a couple of years rates have nudged up a couple of percent and your circumstances have changed meaning you can't remortgage?

Also as you're on the SVR they can change the amount above which they track base rate and with the scheme by which lenders could borrow from the BoE at very cheap rates coming to an end mortgage rates could well go up before base rate does again.

Yes all options are worth exploring but if you can fix now for5 years at anything under 3% I'd be seriously tempted.

Well personally I've had seven years of paying less than 2% interest (I'm not on the SVR I'm effectively on a tracker at 1.49% above base).  No fixed rate would be better than that especially after adding in fees.

Yeah it's a risk and one that I was happy to take and it's paid off for me.  I can't see interest rates going up by 1% over the next couple of years but hey maybe I'll be proved wrong.

We used https://www.landc.co.uk

They found us a better deal than we could have got elsewhere (the bank is broker only). The initial search was quick and easy. After that it was a deeply unpleasant and slow experience and their data protection, or lack of it, is worrying when they have all your financial details in unsecured email.

We went fixed for the whole mortgage term. I work with personal finance experts and they say go variable as rates won't rise that quickly.

It gets expensive when you add in all the fees.

Nationwide, same rate as HSBC/FD who are notoriously slow.