which mortgage

fredmoney

Hi
My current mortgage us coming up for renewal i have been tied to a cash back Cumberland mortgage for 5 years!! Is it worth me trying the Cumberland for one of there new deals or starting elsewhere?
With the money i wish to borrow my loan to value stands at 60% should i have to pay fees with this I have no bad credit either.
I am put off going to bank or broker because of what i agreed to the last time with the redemption fee and high interest.
What kind of rate should i be looking at paying and how much for fees just incase im ripped off again..
many thanks for any help!

homer_j_3

I think you will find that your experience with a broker may be better this time round due to mortgage regulation. There is a lot more emphasis on consumer protection.

Interest rates can depend on your specific circumstances and credit history etc. Mainstream market with good credit you should be looking at about 3.5-5.5%.

Please do note that just because one comapny offers a lower rate than another company then the first company is cheaper. You have to consider the fees/set up costs etc aswell as the Early Repayment Charges. This is where a broker does come in handy because they should do all this for you.