mike.h

mike.h_10

i took out a fixed rate mortage 4 2 years it is nearing the end soon and i have no idea how to go about remorgageing ? as i had no fees to pay on taking out the 1st mortgage. should i go back to the guy who sorted it out 4 me or should i contact my mortage lender direct ? any help or advice would be grateful. thanks.

AndrewSmith

If you were happy with the advice the original advisor gave you then I see no reason not to go directly back to him.

He will be grateful for the repeat business and will want to secure you as a long term client in the future for the next time, so should do a good job for you.

If he is an independant broker he will save your time and shoe leather by researching the best product for your circumstances.

Also, if you are unsure of the re-mortgage process ask him to explain it fully to you. You cannot guarantee that there will be no fees to pay on this remortgage, it depends on the available products and your personal situation.

Hope this helps.

Ian_W

If you have no idea about remortgaging read THIS. It's Martin's guide from the Mortgage section of the site. He was on the ITV news last night suggesting £X millions of pounds is made by lenders simply because too many of us "have no idea how to go about remorgageing" so get stuck with uncompetitive deals.

Once you're up to speed with what it entails you'll be in a better position to judge whether your previous adviser is best placed to help you this time. Is s/he independent and can they access the whole of the market? Are there any fees, if so do they get you a better deal than going direct?

First port of call should be your present lender, they may allow you to swop products for low or no fee and if there rates are good that might be the cheapest [and easiest] option. Compare using the moneynet, moneyfacts etc calcs linked to this site then consider advice from your present adviser and compare with advice from one of the brokers linked to this site.

A little bit of work for you - but it could save you quite a bit of money over the next few years.
BoL.