btl morgage runs out in aug 09

deano72_2

my current deal is due up in aug so need to know how to go about a new morgage...is it best to get quotes now,do they honour them for a certern period?also iv herd horror stories that the fees for a new btl morgage is steep,around 3-4k :eek:

_Andy_

Now would be a good time to start looking.
Offer validity varies lender to lender.
Speak to a decent broker who can find a suitable product for you. (Also check what your current lender will offer you)

socrates

deano72 wrote: »

my current deal is due up in aug so need to know how to go about a new morgage...is it best to get quotes now,do they honour them for a certern period?also iv herd horror stories that the fees for a new btl morgage is steep,around 3-4k :eek:

What is your LTV - what will your new rate be (SVR) - who is your lender?

BoilerBoy

deano72 wrote: »

my current deal is due up in aug so need to know how to go about a new morgage...is it best to get quotes now,do they honour them for a certern period?also iv herd horror stories that the fees for a new btl morgage is steep,around 3-4k :eek:

I'm in the same situation, and to be honest, I'm crapping myself about it.

hearts

It depends, as said above, on 2 things. Your LTV and your present lenders SVR. A couple of mine recently ran out and I moved on to BOE +2% so quite happy at the moment. Obviously when rates rise again things could get tricky.

deano72_2

socrates wrote: »

What is your LTV - what will your new rate be (SVR) - who is your lender?

ltv = 81% my current rate is 5.4% but i cant remeber what it will be when it runs out in aug,it will track the base rate but dont know how much above,will have to find out.....halifax are my lender

deano72_2

hearts wrote: »

It depends, as said above, on 2 things. Your LTV and your present lenders SVR. A couple of mine recently ran out and I moved on to BOE +2% so quite happy at the moment. Obviously when rates rise again things could get tricky.

i will be better of at the mo because of low BOE rates,but like you if/when they go up then not so good