Transfer of Mortgage

GOLFER

Hi all

We curently have a mortgage with C+G. £120000 with property worth about £180000. At present we are on variable rate with C+G of 7.00%.

What I'm looking for is info on how to change to the same lender but a better deal. I have sen a DEAL for plus .99% for the length of the nortgage.

The points im not sure on are as follows -

1. Will we need to pay any fees, valuations and legal fees if we are switching with the same lender?

2. Is it just the case of us switching with them or do i need to go through a FA to get this done.

3. Will they do credit checks and ask for payslips etc ?

Our credit rating is average but we have quite a few other debts £45k approx so i was wondering if they would swap it over no problems or do they go through a full check like a new mortgage.

many thanks in advance

herbiesjp

You are looking for a product switch

Phone them and ask them what deals they have for existing clients

No legal fees or valuations - but you will normally have a product fee to pay associtaed with the rate chosen

You can do this direct with C&G

As long as you are not asking for any extra borrowing they should not ask for any paperwork or credit checks

GOLFER

Ive had a look at their website and I think this is the best rate on offer at present. What do you guys think should we be taking a lifetime tracker or a fixed rate or some other kind of mortgage.

One final question would be, we have 20 yrs left to run if i wanted to increase this could i do this without having to do full paperwork and credit checks

thanks