New mortgage

roscoc180

Hi all I;m a newbie

I am currently selling my house and i have a fixed rate mortgage with abbey that ties me for another 2yrs 10 m rate is 5.39. I wish to borrow a bit more to move and pay the charge to get out - 1900. To pay off in total it will be 81000 and the house i want is 200000, i will have a 80000 deposit. I have a secure job in education with a joint income of 39000. what scares me is are there still mortgages out there???????? do you believe the media?????? My question is do i go to a broker (last time i used money supermarket) or go direct. if the answer is broker who?

Thanks

beecher

Have you contacted abbey? You may be able to port your existing mortgage and borrow the additional money. They should be your first port of call as it would save you £1900.

There are still mortgages out there and you should maybe ask friends and family if they've used a mortgage adviser who they've been happy with. Maybe your local authority has a recommended adviser so ask colleagues too.

anselld

MoneySupermarket is still as good as any adviser IMHO.
Do some research on currently available rates before you talk to Abbey so that you know if their offer is a good one.
And yes, contrary to the media hype there are plenty of willing lenders out there, especially if you have a good deposit and good credit history.

dimbo61

On the abbey website is a 3 year fix of 4.34% with a £495 fee to borrow the extra money.
Dont see the point in paying £1900 to leave abbey
If you have another fix over 3 years both deals finish at nearly the same time.
If you have extra money overpay on the first 5.39% part !