How early do you need to start looking when remortgaging?

skaps

My fixed rate ends next October 2011 and I wanted to know when I should start looking for remortgages? Also when remortgaging what will be more important the ltv or the salary multiple?

missma

Am starting to look now and ours is up end of july

dwsjarcmcd

About 3 months before the end of the fix. Start with your current lender that way you would just move onto a new deal with only a form to sign and payment of any fees.

With your current lender the only issue would be LTV, if you move they are equally important although LTV does govern the deals.

Xbigman

About 4 months before your current deal ends start looking around. Most lenders will let you arrange a new deal up to 3 months before hand.
Should you jump in early? Good question. You need find out what your standard variable rate (SVR) is because right now that could work out a lot cheaper.
Regards



X

dimbo61

As you still have 18 months left on your current deal you could look at Martins article on paying the ERC and moving to a better deal.
We have no details of the deal you are on now, ERC , LTV or income but I guess like most mortgage deals you are allowed to overpay so if mortgage rate is over 4% then overpay the mortgage is possible.

skaps

I will have to wait till next year as I spoke to a mortgage advisor and the only deals that are around at the moment would not be better for me. Am overpaying a little each month at the moment.