Mortagage Advise Needed

bubblesmurf

Hi. Let me thanks all you financial wizards in advance.
I sorted my mortagage on my own the first time. Don't think I got the best deal -did not do enough/ good research. I wondered if anyone could suggest a good mortagage advisor/ firm who could advise me on how to be mortgage-free in 5 years. Or if they have done the planning themselves for the same point me the direaction of templates that will help me plan. My mortgage was fixed for 5 years and the 5years will be up in a few months. Thanks.

dimbo61

Have you looked at offset mortgages?
If you took a 5 year deal fixed offset and overpaid/ built up savings in the offset account you could be MF in 5 years.
We have NO details on income, LTV,debt, ETC so cant even guess if this is possible

Joe_Bloggs

@bubblesmurf
Welcome to the forum.
The first question you will be asked by anyone concerned is what will the mortgage rate revert to once the fixed rate ends ? This may require some ruffling of papers from five years ago. The terms and conditions of your mortgage may well switch once the fixed term ends. This may be advantageous or not.

In any case get your existing paperwork together and give your self a credit check with the credit reference agencies. This will better prepare yourself for any further action. Finding out how much your property is worth would solve what your loan to value ratio (LTV) is. This is left to the lender to gestimate so you have to be cautious and realistic in a falling market.

See Martin' s Credit Ratings advice page.
http://www.moneysavingexpert.com/loans/credit-rating-credit-score#checker

Check out the Remortgage guide.
J_B.