Remortgage questions - fixing rates and general advice

goldbyron

I am due to re-mortgage at the end of November 2009 and obviously would like to fix for a further two years (as I may want to move after this time). However I do not want to risk the rates increasing again and was wondering when is the earliest that I can set a rate (with arrangment fee) with a BS or bank now to commence in Nov? I do not want to leave my current deal early (fixed at 4.74% so it is okay). Also this is my first time re-mortgaging - what else do I need to do such as hiring a solicitor again or arranging a survey?

Thanks

_Andy_

Varies lender to lender, maximum will be 6 months.

Solicitors/valuation varies lender to lender / product-to-product, as some will cover the cost for you.

luckyfool

Several will issue offers valid for 6 months which should be fine for you. There are also options from some lenders with rates that are capped variables, i.e. low variable rate, but guaranteed not to rise above say 4.99% for the 2 or 3 yr timeframe.

herbiesjp

However your current loan to value will determine what options you will have available to you

What is the property value and the mortgage amount? What kind of rental income do you think you could get?

virgoan

Hi ,
i am new to this site, and this is my first message.
I am in a huge dlemma.
I am due for re-mortgage in June 2009(comin out of my fixed rate).My current lender has worked out my property value to be much less than expected-putting me in negative equity almost.This is despite making the usual 10% overpayments .
Should i get the bank to get it valued by a surveyor or go by what the bank has internally worked out.I fear that the surveyor may quote it lower.
On the website -mouseprice.com ,my property is being valued much better.
What should i do.
thanks

goldbyron

My mortgage is going to be less than 75% of value.

_Andy_

virgoan wrote: »

Hi ,
i am new to this site, and this is my first message.
I am in a huge dlemma.
I am due for re-mortgage in June 2009(comin out of my fixed rate).My current lender has worked out my property value to be much less than expected-putting me in negative equity almost.This is despite making the usual 10% overpayments .
Should i get the bank to get it valued by a surveyor or go by what the bank has internally worked out.I fear that the surveyor may quote it lower.
On the website -mouseprice.com ,my property is being valued much better.
What should i do.
thanks

Create a new thread rather than posting on someone elses.