When remortgaging when to start shopping around.

Jett

How long does it take on average from start to completion when remortgaging? I've read a few posts and some are saying 12 weeks for their application to be processed?

My current deal runs until feb 09 and i was thinking to start in the new year but i don't want to leave it too late and go on to the SVR.

Thanks in advance

koexelek

Best to allow at least two months in order to be on the safe side.
As most mortgage offers are valid for at least 3 months though, you can apply earlier if there is a particularly good deal on offer

herbiesjp

3 months before is a good starting place.

Try and find out what your current lender will offer you first if possible

Jett

Thanks both.

Currently with ING they aren't advertising anything of interest in fact they appear only to have their SVR on offer?!?!?

I am thinking that i will probably go down the route of a tracker for a couple of years and reassess my situation then, having said that i guess a lot change change between now and Feb and so if a fixed rate becomes appealing then i could be easily persuaded.

whu

3 months is a good time to start - some lenders keep the rate open for 6 months but dont know if that is still the case in the current climate

koexelek

A lot of people seem to be falling into the trap of leaving it as long as possible before they start looking, in the hope that better deals will be released.
If anything, a lot of deals have got worse since the base rate cut though.
Your typical Nationwide tracker is now 0.5% higher than it was a fortnight ago.