How often do mortgage products change?

tyler80

We've just had an offer accepted on a house. We got an agreement in principle before we started making offers a couple of months ago but the house we're hoping to buy is quite a lot cheaper than the figures we got the AIP with so LTV is significantly better etc.

Before I spend all weekend researching mortgages using figures I wondered how often banks and building societies update their mortgage deals. Are there likely to be new deals at the end of this month?

Thrugelmir

Mortgage products can change or be revised at any time. Depending on market conditions or the lenders current objectives.

So choose what's best for you now. Don't assume that something better will come along in a few days.

sitesafe

tyler80 wrote: »

We've just had an offer accepted on a house. We got an agreement in principle before we started making offers a couple of months ago but the house we're hoping to buy is quite a lot cheaper than the figures we got the AIP with so LTV is significantly better etc.

Before I spend all weekend researching mortgages using figures I wondered how often banks and building societies update their mortgage deals. Are there likely to be new deals at the end of this month?

hi

I think my mortgage provider changes its deals around the 16th of the month because my provider was going to contact me to offer me deals that would be available to me and I remember her saying she would call after 16th as that's when the new products come out; however when I've been offered new terms for remortgaging they tell me I have only one day to decide as the rates they are offering are only valid. Maybe that's because it's a telephone remortgage application - I don't know. But I do believe deals change regularly although I'm no expert.

tyler80

I was approaching it more from the point of view of would I find mortgage deals that are available now but not 1st June rather than waiting for something better.

Thrugelmir

tyler80 wrote: »

I was approaching it more from the point of view of would I find mortgage deals that are available now but not 1st June rather than waiting for something better.

There's only 1 working day before then. So you would need to get your application in quick.

kingstreet

They are changing all the time. Most lenders change as money market conditions change and other products sell out.

Halifax is refreshing its products tomorrow, with the following emailed to intemediaries today;-

New Business

2 year fixed rates at 60% and 75% LTV reduced by up to 0.10%. New rates start from 3.09%.
New 2 year fixed rates available up to 80% LTV starting from 4.19%.
2 year tracker rates at 60% and 75% LTV reduced by up to 0.20%. New rates start from 2.49%.
5 year fixed rates at 60% and 75% LTV reduced by 0.20%. New rates start from 4.99%.

Product Transfers

End-dates extended to September of the relevant year with complete-by dates moved to 31 December 2011