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  • FIRST POST
    • Bitofsteak
    • By Bitofsteak 29th Nov 17, 10:28 AM
    • 13Posts
    • 0Thanks
    Bitofsteak
    Remortgaging - Broker Chat beforehand?
    • #1
    • 29th Nov 17, 10:28 AM
    Remortgaging - Broker Chat beforehand? 29th Nov 17 at 10:28 AM
    I am just looking for a bit of advice.

    I currently have a fixed rate mortgage with the Nationwide which ends on the 31st March at a rate of 3.19% of which I overpay £100.00 a month, currently I am looking at remortgaging. My property is currently worth £213,000 and I have £44,800 outstanding to pay, my LTV is around 21.13%.

    I would like to take out a 10 year fixed deal and try and get as much paid off as I can in that time, and if I can pay off the rest with savings (I do not have enough savings to pay off the whole amount at the moment) I will. I have 20 years left to pay off the mortgage but would like to see if I can reduce this to 15 years, hence the reason for my plans.

    I have been searching for deals and out of the many, Nationwide and First Direct seem reasonable, however as I have been thinking of reducing the term is it wise to speak to a fee free broker before I speak to Nationwide or other lenders? If so, can anyone point me in the right direction of a website link for fee free brokers in Cornwall?

    I do not have any other debts or outstanding payments, my mortgage is the only debt I have.

    Thanks
Page 1
    • YHM
    • By YHM 29th Nov 17, 10:41 AM
    • 303 Posts
    • 99 Thanks
    YHM
    • #2
    • 29th Nov 17, 10:41 AM
    • #2
    • 29th Nov 17, 10:41 AM
    I've just looked for you and you wont find a cheaper 10 year fee free fixed than first direct 2.54%.

    Don't bother paying a fee, you wont see the benefit for it, even over a 10 year stretch.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • Bitofsteak
    • By Bitofsteak 29th Nov 17, 11:12 AM
    • 13 Posts
    • 0 Thanks
    Bitofsteak
    • #3
    • 29th Nov 17, 11:12 AM
    • #3
    • 29th Nov 17, 11:12 AM
    Thank You for this.

    I cannot remember, but is the First Direct mortgage portable, just in case I want to move house in the future?
    • YHM
    • By YHM 29th Nov 17, 11:12 AM
    • 303 Posts
    • 99 Thanks
    YHM
    • #4
    • 29th Nov 17, 11:12 AM
    • #4
    • 29th Nov 17, 11:12 AM
    Yes, subject to conditions. They will help you with that
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
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