When to shop for the next deal?

Catanddogs

Hi, our current deal ends at the end of June 2011. Just wondering when you guys think we could start looking for the next deal?

STAR_BUCK

My deal expired at the end of October but I started looking for a new deal 3-4 months before hand.

Most lenders will only reserve a product for upto 4 months. With brittania we managed to get them to extend the reservation of our new fixed rate by an extra 2 weeks so that we could get the product.

STAR_BUCK

for you start looking around feb-marchtime

Senior_Paper_Monitor

Offers are normally valid for between 3 and 6 months.

Rates are remarkably low at the moment - and will probably remain so for at least another couple of months (opinion only).

Details of deals available vary by the day, so there is no point in wasting time investigating possibilities until you are able to progress a full application (only a full application secures the rate)

Based on the above - I reckon that you should be looking at options at the beginning of Januray and progressing an application with the most attractive deal that will be valid for 6 months from offer.

One option is to fully brief a mortgage broker (perhaps beginning of December - go through the full paperwork process at that time) who will monitor developments across the market and call you when he/she sees a good deal matching your requirements and be able to progress the application as soon as you accept one.

This suggestion is based on the fact that many 'special offers' are on the market for only a few days at the moment (by which time allocated funds are exhausted and the product is withdrawn).

Catanddogs

Thanks for the replies, I am hoping they stay low next time we want to fix for 5 years. Some good suggestions above.

dimbo61

Have a look at YBS as I like them !
Only my opinion and check out the offset deals.