Remortgage question

xyz123

hi

guys am a first time buyer and just a quick question. while trying to look for mortgage and choosing between fixed / tracker / variable i want to go for a fixed mortage initially. once fixed term is over the mortgage moves to typical rate of lender.

is it easy to move mortgage providers once initial period over. understand that it's not same as changing saving account but is it very difficult and what sort of costs are typically involved?

i think i again pay arrangement fee etc to new mortgage provide, is that correct..

hcb42

potentially, depends on product you choose second time around.

i dont thnik it is easy, you have to go through most of process again, proof of earnings etc, credi check, survey, LTV needs to be considered, but if all are positive then it can be completed in 6-8 weeks according to the people I am currently considering for remortgage.

shortchanged_2

It really depends on the circumstances when you come to remortgage. As the previous poster has stated it will depend on if you fulfil the criteria at the time of remortgage.