NR together remort deals??

alan_blue

Hi all, i am in a NR together mort with a mort amount of 118 and a fixed unsec loan of 25k.

i am coming to the end of my fixed rate deal in feb and wondered what advice you kind people could give me? My house is worth 155k (3 months ago) and am now wondering am i best getting a seperate loan and then this keeps the LTV down to inside a possible deal amount? or is there any wisdom you peeps could shed?

thanks in advance
al

Nonshy

what is wrong with SVR 5.84%?

Be surprised if you get a much better mortgage deal than that rate at current LTV or even be offered a mortgage deal. How did you get the figure of how much your property is "worth?"

92.3% LTV based on your figures!!

alan_blue

i had a valuation from an estate agent, SVR is ok but i want a fixed rate so i can sit back and relax for a few years.

My LTV will be less if i keep a loan and that is my main question for you guys is that a good idea?

caracal_77

alan_blue wrote: »

i had a valuation from an estate agent, SVR is ok but i want a fixed rate so i can sit back and relax for a few years.

My LTV will be less if i keep a loan and that is my main question for you guys is that a good idea?

I wouldn't rely on estate agent valuation if I were you...

alan_blue

what else can i rely on?

lisyloo

Don't know if this applies to you but my niece is with NR and she has said that NR have given her access to some new deals (she is in negative equity).
I believe this is something to do with pressure from the government ??
I don't know whether they called NR or got a letter but it would certainly seem worth a phone call in my view to see what they will offer.

Preciously there has been nothing availbel so I believe this is a recent change and probably comes from the governement.

alan_blue

thanks i will call them this morning and post up what they say

caracal_77

alan_blue wrote: »

what else can i rely on?

I would rely more on recent sales figures, combine with the market changes since (i.e if you see some sales from x months ago, you need to take into account what changed in house prices since). This in my mind will give you a more accurate valuation.
To get to these sites just search for house prices UK in any search engine.

waddy80

Why do you want a fixed rate? There is a distinct possibility that rates will go down again and therefore you will get a better deal on SVR.

alan_blue

called them and they aint doing any more deals for exsisting customers, oh well

We want a fixed just to be sorted tbh as we are emigrating to oz in july 09 and would prefer to have all the mortgage side of things here sorted before we leave as it will be a pain to do from the beach lol

lisyloo

I'll see what I can find out but perhaps there are some rules that means is applies to some and not others e.g. perhaps they have to help the negative equity people.