Mortgage deal ends soon - advice appreciated

prophecy_grrl

Hi

This is the first time I've posted on the MFW board, so bear with me

Our mortgage fixed rate deal ends in October. When should I apply for my remortgage? I am with Natwest at the mo, but have seen better deals elsewhere, I have only ever been with Natwest since I took out the mortgage in 2003 so am not sure how remortgaging with another place will work.

All/any advice gratefully received

Thanks

Prophecy x

moominyak

Hi Prophecy,

I think to remortgage with a different bank takes between 6-8 weeks, so I'd submit an application a good couple of months before you want to complete to allow for any hiccups along the way.

I've only done this a couple of times, the first was to get me out of a joint adverse mortgage :eek: which was a right nightmare, the second (now!) I applied to the Co-op and was accepted but then my existing lender came up with a better deal so I'm staying put.

Co-op sounded like they'd be quite co-operative (sorry!) with regard to completion taking place as soon as my fixed rate ended, although I think the worst that would happen would be up to a month on your existing lender's SVR at the end of your fixed rate if the remortgage was a bit late in completing.

HTH

setmefree2

Hi

You might get more replies on the "Mortgage and Endowments board...:money:

_Andy_

You may as well start looking now. This will allow you plenty of time to get everything sorted in time.

Mr_helpful

Start looking now but the first point of call should be to see what your existing lender can do.

hydsta

Yep go back to your lender first to see what they can offer you. Then go and see an independent mortgage broker, they'll be able to search the whole market for you, and will save you time. There are some deals provided to brokers by lenders which can only be taken exclusively with them so they are worth a try. Mortgage products are constantly being withdrawn and replaced so lender's wont usually want to know until closer to the time, but 3 months prior to your fixed ending is a good time to start looking.

prophecy_grrl

Thanks for all your replies guys, I'm on the case!