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Remortgage Advice?

herbal
herbal Posts: 348 Forumite
in Mortgages & endowments
My mortgage is up on 31/05, I thought it was July when we moved in but must be when it was approved. Anyway it's with HSBC and they have offered me a Home Buyer Mortgage Variable rate and is at the moment 5.5%. And the overall cost for comparison is 5.7% (dont know what this is)

They said i need to phone for another fixed rate if i need to.

Now what are my options here? This is my first time remortgaging and dont know alot about it.

Comments

  • herbal
    herbal Posts: 348 Forumite
    Just phoned them now and got this.

    Fixed for 2 years
    5.19%
    4.99% £399 fee
    4.7% £599

    Tracker

    5.3% £399
    5.2% £599
  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    there are better fixed rates out there especially if you dont mind arrangements fees..
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • herbal
    herbal Posts: 348 Forumite
    thanks Homer, whats the best fixed or Tracker?

    Phoned them now they getting back to me on a Nationwide fixed rate of 4.39% with no legal fees and no valuation fees.
  • johnm2565
    johnm2565 Posts: 2 Newbie
    Hi,

    Go to https://www.home-remorgage.co.uk/enquiry.asp and fill in the form - a broker will then contact you to discuss this

    Hope that helps.

    John
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    herbal wrote:
    whats the best fixed or Tracker?

    Phoned them now they getting back to me on a Nationwide fixed rate of 4.39% with no legal fees and no valuation fees.


    There are plenty of deals out there that are cheaper, but your circumstances would have to fit the lender's criteria

    As always, have a word with a godd whole of market adviser, and let them guide you along the re-mortgage process
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • herbal
    herbal Posts: 348 Forumite
    Will these be listed in the Yellow pages etc?
  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    hi herbal. those rates hsbc have offered you are poor. dont follow any links that are put on here by brokers they are not allowed to promote their own companies in such away. which area do you live in? you could find a local broker by using the financial services authority website or by asking friends and family for recommendations
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • HelpWhereIcan
    HelpWhereIcan Posts: 1,343 Forumite
    MortgageMamma wrote:
    hi herbal. those rates hsbc have offered you are poor. dont follow any links that are put on here by brokers they are not allowed to promote their own companies in such away.

    I'd be especially suspicious of those who cannot spell remortgage

    :rotfl: :rotfl: :rotfl: :rotfl:
    johnm2565 wrote:
    Go to https://www.home-remorgage.co.uk/enquiry.asp and fill in the form - a broker will then contact you to discuss this

    or should it be re-mortgage ?

    :rotfl: :rotfl: :rotfl: :rotfl:
    I am an IFA (and boss o' t'swings idst)
    You should note that this site doesn't check my status as an IFA, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    very funny help. I didnt spot that one!! I've reported the posts and had em shifted anyway
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
This discussion has been closed.
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