Help with re-mortgage

crispo

Hi,

I need some help with figuring out how to re-mortgage

I'm just coming to the end of a 3yr fixed deal with Santander. Rate was fixed at 5.8%, and is due to go down to their variable rate 4.24% in a couple of months. This still feels like daylight robbery since the base rate is so low!

Ideally i would like to remortgage with another lender but have a couple of issues:
- i am currently living outside the UK, not on the electoral role and have no UK earnings. (my mum is living in the property at the moment)
- I need a mortgage with no Early Repayment Charge (i may want to sell it in a year or so)

House is worth £240,000 with £60,000 equity, so the LTV for remortgage is 75%

Does anyone have any suggestions of what options i have?

Any help would be much appreicated!

Thanks,
Crispo

hcb42

If you want to sell it in a year or so, and you have all those factors for a new lender to consider, then your current rate (their SVR) is not too bad at all...

Thrugelmir

crispo wrote: »

Does anyone have any suggestions of what options i have?

So you work abroad for a UK based employer?

There is no correlation between BOE base and SVR at the current levels. For the simple reason alone that Santander does not borrow or raise money at 0.5% .