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New Mortgage time
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rchddap1
Posts: 5,926 Forumite
My Fixed mortgage with the halifax is about to run out and I've been thinking about what to do next. I want people's thoughts on whether it would be worth my time to go to a different lender. I assume that by moving lenders there are solicitors fees involved somewhere (total cost?).
We have a shared ownership property (owning 40%) and would need a total mortgage of around £43,500. Halifax have made a few offers...most ranging from £280 - £290 per month.
I'm very aware that my mortgage amount isn't that high, and if I move to another lender there is a chance I'll pay a lot up front to move the mortgage and won't re-coup much over the first few years in lower payments.
Suggestions?
We have a shared ownership property (owning 40%) and would need a total mortgage of around £43,500. Halifax have made a few offers...most ranging from £280 - £290 per month.
I'm very aware that my mortgage amount isn't that high, and if I move to another lender there is a chance I'll pay a lot up front to move the mortgage and won't re-coup much over the first few years in lower payments.
Suggestions?
Baby Year 1: Oh dear...on the move
Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
Love to my two angels that I will never forget.
Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
Love to my two angels that I will never forget.
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Comments
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Given that you have a small loan and a Shared ownership deal, unless you are looking at increasing your share of ownership, i would give serious consideration to using one of the Halifax retention products. They aren't very good but cheap to transfer to. If you think it is likely that you will want to increase your share of ownership in the foreseeable future, then make sure you don't tie yourself in past the time you feel this is likely to happen.
HTH
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
That's what I was thinking myself. However, wanted to get people's opinions.....just in case I was wrong.Baby Year 1: Oh dear...on the move
Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
Love to my two angels that I will never forget.0
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