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Advice please...

jodiebabes
jodiebabes Posts: 69 Forumite
in Mortgages & endowments
I have a question. It may seem pretty obvious to you lot but I dont know the answer myself.

We are moving house and have got a mortgage with the HSBC (2 year fixed at 5.99% with 10% LTV).

I am just wondering what happens at the end of the 2 year fixed with regards to finding another mortgage deal. Do we have to find a deposit again? Or will they value the house and if it has held its value then your 10% LTV is in the house so to speak?

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    It will be based on your home value at the time.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    You don't have to remortgage, it is unlikely you have a 2 year term.

    Just move to the follow on rate, make sure that is going to be predictable like a base rate tracker rather than a SVR.
  • jodiebabes
    jodiebabes Posts: 69 Forumite
    getmore4less wrote: »
    You don't have to remortgage, it is unlikely you have a 2 year term.

    Just move to the follow on rate, make sure that is going to be predictable like a base rate tracker rather than a SVR.


    Yeah I knew we could do that. Just wondered if we were to find a better product. Thats ok to know then.
This discussion has been closed.
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