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Remortage after 6 months
lifesachallenge
Posts: 91 Forumite
Hi All
I have read the remortaging Guide, but am still a bit unsure of how to go about remortaging...
My partner and I took out our first mortage with Birmingham Midshires in December. It is a 5.4% life tracker repayment, with no tie in.
We are looking at remortaging as not only are intertest rates about to go up, but we could do with some equity to spend on the house, and possibly reduce the monthly payment.
Is the first thing we need to do to get the house valued? and if so by whom, can it just be estate agent or does it need to be mortage broker etc??
Any advice gratefully received
Thanks
I have read the remortaging Guide, but am still a bit unsure of how to go about remortaging...
My partner and I took out our first mortage with Birmingham Midshires in December. It is a 5.4% life tracker repayment, with no tie in.
We are looking at remortaging as not only are intertest rates about to go up, but we could do with some equity to spend on the house, and possibly reduce the monthly payment.
Is the first thing we need to do to get the house valued? and if so by whom, can it just be estate agent or does it need to be mortage broker etc??
Any advice gratefully received
Thanks
0
Comments
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lifesachallenge wrote:Hi All
Is the first thing we need to do to get the house valued? and if so by whom, can it just be estate agent or does it need to be mortage broker etc??
Any advice gratefully received
Thanks
You don't need to do anything about valuation. The lending company arranges that for itself.0 -
If its a simple remortgage you do not need another valuation unless you plan to release some equity.Motto: 'If you don't ask, you don't get!!'
Remember to say thank you to people who help you out!
Also, thank you to people who help me out.0
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