Longest mortgage offer validity period

seikothrill

I have a base rate tracker until 31/10/2011 and I was wondering which lender has the longest remortgage offer period.

I ma thinking of getting a 5 year fixed nowwhilst rates are low but wait until 01/11/2011 for my redemption penalty to expire before I complete. Do any lenders offer a mortgage offer that is valid for 9 months?

Are there any lenders that do 6 month offers?

I could then plan ahead by getting a good deal now whilst still benefitting from current mortgage until 31/10/2011

glitzy

Im interested in the answer to this question, as mine runs out end of july, would like to try & fix now

Burridge60

You would be restricting your choice of lenders quite markedly if this is specified as one of your requirements. You might also want to make sure you can replace the deal with anything better that the new lender launches before your redemption period ends

If it were my mortgage I would already be overpaying based on what is a good average five year fixed rate. Have a look around now and overpay your current mortgage if you can BUT make sure this can be done without charge or penalty.

Your current lender may well have competitive deals and when you factor in costs of moving lenders, the hassle and the paperwork you must fish out for the new lender and the conveyancer it can be worth staying put for. If you are now on interest only a new lender may insist that you move to the Repayment method.

silvercar

Coventry BS used to be 6 months; I don't know if they still are.

RBS/ NAtWest are 3 months.

mrmajika

First Direct & HSBC certainly used to be 6 months. I believe the vast majority of the rest are 3 months.

herbiesjp

No 9 months offer letters available.

Also be careful, as although you may be able to get offer letters valid for 6 or 3 months, you may find that the rate you have chosen expires before the offer letter does.

EG, offer letter valid until 01/04/2011 but product expires 10/03/2011.

So it is not as easy to work out when is the best time to apply.