Mortgage Deal Tomorrow

EDITION

Hi,

Got an appointment tomorrow with our lender (on a 2 yrs fixed that runs out January).

Can I secure a deal tomorrow and walk out knowing im fine for another term? Or does this have to go through the various credit ratings as per our 1st mortgage term?

Also can we sort it out now for January?


Will we go through income, expenditure, house value and deposit as before or will they just look at previous calcs and sign it off?


Cheers

koexelek

If staying with current lender, there should be no need for credit scores, proof of income etc.
They should be able to do it there and then.

The deal you are offered might depend on what they think the loan to value now is. A lot of lenders index link it from when you bought it, so where as you might have had an 85% loan to value deal initially, you might only now get offered a 90% one.

herbiesjp

Indeed - if staying with your current lender should all be straightforward choosing a new deal to go on. The transfer should happen seamlessly as it is with the same lender, and no supporting documenation should be needed.

However, are your current lender offering the best deal for you?

You might just want to have a quick look around to see what else is on the market, either yourself or via a broker, to make sure you are getting the best deal