new to remortgaging...

glittersniffer

hi all,
i am a newbie on here. i am looking for some help from wise people .
i was a first time buyer in 2008 and my 'fixed term' mortgage is coming up for renewal. when i took out my mortgage it was 6.6%. when i phoned my current lender yesterday the best they could offer was 6.9% (nationwide).
i am trying to avoid shelling out for application/processing fees or i will eternally be in debt! i see some lenders charging nearly £2K! i think the banks make enough money already :-P
if my sums are right i need 83% LTV when i remortgage...
i have had a good look on the net for rates/deals but they seem to be suited for 70% or less LTV.
is anyone aware of any friendly 'fixed term' deals anywhere?
any advice would be really helpful.
x

itzmee

You don't HAVE to renew your rate unless you want the security of a fixed rate! Check your mortgage offer to see what your mortgage reverts to when your fixed rate ends. You may find that you will be better off than you are now if your deal reverts to a tracker or the lender's SVR (standard variable rate). If that's the case then you may be better off overpaying to reduce your LTV and then you can shop around for a good deal.