Do I have any remortgage options as I'm unemployed?

Mad_Witch

I've had my mortgage since 2004 and have always had 2 year fixed rates. 1st remortgage in 2006 cost £0. Next remortgage in 2008 cost £395. Current fixed rate ends March 2010 and new fixed rate options will cost £995!! Why does my provider charge me nearly £1k to stay with them? It can't cost that much to key a few numbers into their computer system to change my fixed rate, can it? Would anyone else take me on as I have been unemployed since 2006 (my lender is fully aware) but have always kept up my repayments. I am single so no other income. HELP!

_Andy_

No other lender will look at it.
You're not paying the £995 (which is fairly standard BTW) for the 'work' as such, it's for the rate.
You may find you're better off staying on the SVR anyway.

Mad_Witch

Thank you for your message. I will have to go for a fixed rate again rather than revert to the SVR as I'm on such a tight income already I need to know exactly what my outgoings are (and can't afford for my payments to increase if the interest rate goes up). I think I may opt for a 5 year fixed so at least I'll not have to pay the £995 switching fee so often!