Remorgaging

david68

Hi
I currently have my morgage with C & G.
My Mortgage amount is 27,000, I am looking to remortgage so i can get a extra 20,000 making my total mortgage of 47,000.
I will require it over 25 years and don't mind a 2 year deal but after that i would like to ba able to move it again if i like.

Property value for my home is around £150,000

Please could anyone advise a good deal or good lender deals at the moment.

Thanks Dave

mad

Hi Dave

welcome to the site. the first thing I would do would be is to consult a whole of market mortgage adviser, there are a few on here who may show themselves soon. Here is one link that gives you an idea of the best two year no tie in deals, watch out for the charges though:

http://moneycentral.moneyextra.com/bestbuys/MSN-Mortgages-2YearFixedRateNoEarlyRepayment-bestbuy.html

Here is another link you might want to look at to start your seach

http://www.moneysupermarket.com/mortgages/mortgage.asp

Also have you read the section on this site

herbiesjp

david68 wrote:

Hi
I currently have my morgage with C & G.
My Mortgage amount is 27,000, I am looking to remortgage so i can get a extra 20,000 making my total mortgage of 47,000.
I will require it over 25 years and don't mind a 2 year deal but after that i would like to ba able to move it again if i like.

Property value for my home is around £150,000

Please could anyone advise a good deal or good lender deals at the moment.

Thanks Dave

What deals have C&G offered you?

david68

herbiesjp wrote:

What deals have C&G offered you?

I have not asked C & G yet, but i feel there would be better offers from different lenders

Dave

mad

david68 wrote:

I have not asked C & G yet, but i feel there would be better offers from different lenders

I forgot to mention this in my post above, but trying your existing lender first is a good idea as you may be able to make significant savings in fees / hastle

Good luck

herbiesjp

david68 wrote:

I have not asked C & G yet, but i feel there would be better offers from different lenders

Dave

You would always see what your current lender has to offer - otherwise how do you know the other lender deals would be better?

There may well be better deals out there, but once you have taken exit fees and set up fees for the new mortgage, it may work out better to stay put.

This is even more of a factor when the mortgage is relatively low - however not always the case.

HTH

keefrto

HI, if you are looking for any good fixed rates with no arrangement fees or valuation etc fees, then go to Britannia Building soc. I have a similar small mortgage and the fees that I would have paid wipe out any benefit. Just arranged my swap to Britannia.
good luck
k:beer:

david68

Just had a visit from a morgage adviser.
He said he could get me a varible rate of 5%.
The extra £20.000 i want with the remorgage he could have in a seperate account which is also flexible.
And i only pay the same morgage rate if i take some money from this account.
But if i pay it back the next day, i will not pay any extra.
So if i do not use the extra 20.000 i will not pay any intrest. But if i say use only 5.000 this will be added to my morgage until i pay it back.
Bit ike a 20,000 over draft.
But the Morgage Advise Services will take £895 for their fees and 450 solicitor after morgage as been accepted.

But i did think there would be no charge when he came out.

What do you all think of this offer especial the flexibilty of having the extra 20,000 and only paying intrest for it as you use it

Dave

herbiesjp

£895 fee on a £47k mortgage? Wow

Yuo do not state what the fees attached to the mortgage are i.e arrangement fees etc, but you say there are £450 solicitor fees

We know nothing about your situation here, but I would suggest you could get deals that include free valuations and free legal fees. With a relatively low mortgage like yours you should not be looking to pay out fees like this, as it generally is not cost effective



I think you should find a fee free whole of market broker, and find a deal to suit your needs

HTH