Mortgages up for renewal in Jan 09 is now a good time to start looking for a new deal

edmond

my current mortgage deal runs out in jan 09.
should i start looking now, and its it a good time to, or should i leave it another month?

koexelek

Start looking now, as most mortgage offers will be valid for at least 3 months.

With some products, you can apply now, but you only pay an arrangement fee if you actually take them up.
Therefore, if something better comes along in the meantime, there is nothing to stop you jumping ship to a better deal if one comes up.

herbiesjp

Now is exactly the right time to look.

Firstly find out what your current lender will offer.

Then see how those deals compare against the rest of the market

It will be interesting to see how banks now react in relation to having more competitive deals following on from the governments intervention