Should I cancel the application?

JennyW_2

The mortgage broker has found us the following deal to remortgage:

C&G, fixed 2 years at 5.09% with no fees C&G called yesterday to say they were sending out the paperwork and the surveyor is booked for Thursday.

However I've just read another post here and someone recommended Britannia and I found this:

Fixed 2 years at 4.94%, again no fees.

Now I don't know what to do. This is a monthly saving of £10.

SHould I ring the broker, cancel the surveyor and go with Britannia? Will I be charged for anything done so far? We haven't signed anything. We only spoke with the Broker on Thursday and were emailed an illustration and yesterday got the call from the surveyor.

dunstonh

I suggest you discuss it with the mortgage adviser. For all you know, that deal may not be available to you because it has a certain criteria. Make the adviser aware of the deal and see what they say.

herbiesjp

JennyW wrote:

The mortgage broker has found us the following deal to remortgage:

C&G, fixed 2 years at 5.09% with no fees C&G called yesterday to say they were sending out the paperwork and the surveyor is booked for Thursday.

However I've just read another post here and someone recommended Britannia and I found this:

Fixed 2 years at 4.92%, again no fees.

Now I don't know what to do. This is a monthly saving of £10.

SHould I ring the broker, cancel the surveyor and go with Britannia? Will I be charged for anything done so far? We haven't signed anything. We only spoke with the Broker on Thursday and were emailed an illustration and yesterday got the call from the surveyor.

Check with Britannia to make sure they are totally fees free - I recall that although it says free legals - you used to have to pay some of the disbursements.
Don't just look at the headline rate - you may not fit their criteria for other reasons.

mleonard79

Hi Jenny,

As you haven't signed anything or had the survey done yet I don't see a problem in changing at the last minute but as the others have said talk this over with your broker as there may well be a reason they didn't recommend this mortgage to you in the first place - either something in the small print that makes you ineligible for this particular deal or there may be additional benefits with the other mortgage that make it better than the lower rate one with regards to your individual circumstances (as herbie says never just look at the rate, a mortgage is so much more than just the best rate!)

Regards

Michelle

JennyW_2

thank you all. We have called our broker and are waiting to hear back.