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need a new mortgage
tinkerbell111
Posts: 2 Newbie
I took out a mortgage in September 2006, my current fixed mortgage deal ends in September so I can move companies. My current rate is 7.74%
I had a mortgage advisor sort it all out for me last time as to be honest I really don't have a clue about mortgages etc.
My mortgage stands at £45,000 and the value of the house is £90,000.
Do I go back to a mortgage advisor to see if I can find a cheaper mortgage?
I had a mortgage advisor sort it all out for me last time as to be honest I really don't have a clue about mortgages etc.
My mortgage stands at £45,000 and the value of the house is £90,000.
Do I go back to a mortgage advisor to see if I can find a cheaper mortgage?
0
Comments
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A fix at 7.74% in Sept 2006! Do you have credit problems? For that rate there must have been some catch to your situation or your broker was not doing you a good service.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Can't really comment why you are are on the 7.74% rate as we know nothing about your situation, so lets not jump the gun on your broker here
At 50% LTV you should be able to get better rates - assuming a good credit history
Who is your current lender? Have you had credit problems in the past?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, 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.0 -
I'm self-employed and when i took the mortgage out I had no records of accounts to show. I now have an accountant who has been doing my accounts fro the last two years.
I take it that is a bad rate by your reaction?0 -
Well now, based on your net profit figures, you will hopefully be able to get a lot better than those rates
What have been your Net profit figures over the last 2 years accounts?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, 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.0 -
I'm surprised that your mortgage adviser hasn't been in touch already to discuss the way forward for you. If you liked them and felt they were worth the money if you paid them then why not go back to them.
If the net profit figures stack up in your accounts then you should have access to some of the better rates out there.Happily an ex mortgage broker!0
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