Remortgaging for the first time

ecoelle

Hi all, we are due to finish our 5year fixed rate in April and i'm starting to look at new deals we can move to. Problem is i don't know where to start. The mortagage was taken out with the Halifax in April 2006 and is at 5.39%, i would like another fixed rate deal i think but am not 100% about who to go with. Does anyone know if there's a good website to search on, and i need something that explains it simply in language i an understand:)

ecoelle

We owe 108,000 and the house is worth between £130,000 and £135,000
The monthly payment at the moment is £660 and we don't really want to have to go higher than that. I'm not sure about what the rates are for the Halifax, i did ring their mortgage advisor and to be honest they were really unhelpful. They just said well we can offer you a variable rate or a fixed rate, whatever you want really. They didn't give me any information on rates or how much the monthly payments would be. This is why i wanted to know if there are any good search engines, or any advisors peopl woulf reccommend that don't just deal with one lender. Otherwise i'm going to go bonkers ringing all the different lenders.

beecher2

http://www.halifax.co.uk/mortgages/existing-customer-fixed-95ltv.asp

These are the rates you could go onto with Halifax - you're looking at the 75 - 90% rates - or you could stay on their SVR of 3.5%

Type the details into a mortgage calculator such as

http://www.moneymadeclear.org.uk/tools/mortgage_calculator.html

Check what your house is likely to be valued at here http://www.nationwide.co.uk/hpi/ and also keep an eye on recent sales in your area too - either nethouseprices or ourproperty will help you

Then go and see a mortgage advisor to see what else is out there.

dimbo61

Halifax have a 3 year fix at 5.29% for existing customers with your LTV but they also have a 5 year fix at 5.49% which would cost you very little more.
This is a big decision so maybe take advice and go and see a "whole of market mortgage broker"