End of 2yr tracker, do I swap or hold on??

lucasmum

Hi, I used these boards a couple of years ago to help me through understanding our 1st mortgage, on our shared ownership house. We have a pretty high ltv, I think it was around 85%. We got a good deal .79 over base rate so we are only on 1.29% now!! unfortunately it is coming to an end at the end of may. My question is should I stay with halifax svr of 3.5% or should I be looking around for better deals, if there is anything around?
Any advise will be greaty apreciated

luckyfool

Remortgaging shared ownership can be difficult as lenders criteria has tightened up, so depending on any equity you have in the property you might not be able to go to a new lender anyway. e.g. Back when you took it out lenders often didn't need you to contribute any money towards your share, now most require 15-20% + so depending on how much you put in originally and what has happened to the property value since you took it out will determine what is available.

You can also look at taking a product transfer from Halifax to get a new product from them if you don't want to stay on their SVR. Either speak to your broker, or to Halifax direct and they can look into this for you.