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How soon can you look at switching your fixed rate before it ends?

curtis122
curtis122 Posts: 205 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Mortgages & endowments
I have a 2 year fixed rate mortgage which finishes the end of March 2010. I don't want to finish the fixed rate term I am currently on till it ends the end of March as I have quite a low rate at present but if I was to see a really low rate in Nov/Dec this yearand want to act on it so I don't miss it, can I arrange it that far in advance to start 1st April?

How soon in advance can you start sorting out your next fixed deal to start when the current one ends?

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    It varies lender to lender, maxmium is six months.
  • adandem
    adandem Posts: 3,592 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I think it was 90 days with my lender, YBS.
  • GGGG
    GGGG Posts: 32 Forumite
    You can obtain an "Agreement in Principle" now, either with your existing lender or any other provider. Make sure you do your sums though, as in some cases it's better to go onto their SVR until the mortgage market stabilizes & there are more competitive products available.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
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