Newbie Remortgage advice/info

dartilov

Hi All

Currently have a fixed rate mortgage with the Halifax until 30 Nov 2009 but have started looking around for a good rate over 5 or 10 years. Have 17 years to pay owing £120k with a property, I reckon is £170k, was £180K back in Oct 2005 and houses in our area are still going for £185-195K but I am being pessimistic.

Am looking to reduce the term to 14 or 15 years and might have the opportunity to overpay in a couple of years, joint earnings are £55k. Halifax have confirmed we can switch 1 December.

Are there any lenders able to offer this far in advance or do we have to sit tight until within the 3 months of expiry of fixed rate? How likely are the Halifax to want to offer me a deal? Will they be willing to retain me if I say I am off to another, for example RBS @ 4.69% over 5 years.

Thanks in advance .

lic

I assume that there will be heavy exit fees if you swap to RBS.
I have just applied for a remortgage with HBOS. I am tied till 1/11/09 theysaid if I completed the mortgage before 30/11/09 they would honour todays advertised rates.
As your term ends on 30/11/09, can you start a new deal with them on that date also?
The agent I spoke to today had to ask her supervisor.
I suggest you phone them back and enquire again.

Jacka87

I know that some banks allow a 3month period to take up the mortgage after its been offered but not sure how you would do this if its between 2 companies. Once you only have 3months to go on your term then you could remortgage but with the date of take up arranged for the end of your curent mortgage tie in. I would suggest find themortgage you want and then speak to the lender of the new mortgage and see what they suggest. If they want your business I am sure they can sort it that the mortgage starts at the end of your current deal.