When to start looking???

Moulden71

Hi,

My fixed rate mortgage with nationwide will finish in April 2010, when should i start looking for a new mortgage, do you have to wait until the old one finishes before you can find another lender?

Thanks,

Simon.

vicshippers

If it was me I would keep my eyes on the market for a few months beforehand (probably from about now) and then start talking to a broker in Jan/Feb maybe. Then I would know what a 'good deal' might be at that time, and use this against what my current lender offers. If they offer something worse then I would explain that I had seen a better offer and see if they could get closer to it.

Moulden71

Thanks Vicshippers,

I will have a chat with a broker in Jan/Feb.

Simon.

LeeSouthEast

Latest 'expert' prediction is for a second, worse dip in mid-2010.. so I'd suck it and see for a little while, personally.

Raggie

LeeSouthEast wrote: »

Latest 'expert' prediction is for a second, worse dip in mid-2010.. so I'd suck it and see for a little while, personally.

That's interesting... I've not seen that one...

Could you post a "link" to that Info...?

Many thanks

Rags

vicshippers

Oooooooooo LeeSouthEast - I'd like to see that one too!

LeeSouthEast

Source: Sushil Wadhwani, an ex BoE rate-setter says "UK may face a double dip". He believes the current bounce in the economy was due to temporary factors. He states future tax hikes will hit shoppers and dampen the demand next year, adding: "The second half of 2010 could be more difficult that 2009."

Hardly an authoritive piece given it's in todays 'The Sun', but it is in the Sun CITY section by their Business Editor, with a named source.

Raggie

Many thanks...

That's not one of the "information" sources I normally subscribe to...

I will check it out..

Many thanks

Rags

edit to add link...

http://www.telegraph.co.uk/finance/economics/6001261/UK-risks-a-Japan-style-lost-decade-BoE-will-warn.html

mmmmmm..

It seems today report in sun.. Is a rehash of the telegraph report above from the 9th... Which in turn is an extract from an original statement made in may....!

http://www.telegraph.co.uk/finance/financetopics/recession/5297660/Britain-at-risk-of-economic-setback-in-2010-warns-Sushil-Wadhwani.html

LeeSouthEast

It's The Sun. What do you expect

That said, I suspect he might still be right.