remortgaging help needed

loveGSDs

handytips wrote: »

should you be able to do this then there are quite a number of good fixed rates available to you. sorry for asking about credit, but dunfermline did specialise in the sub prime arena at one time.
will send you a private message.

no problem, thanks for the pm.

i will continue to look at possibilities today and discuss everything with my OH when he comes home tonight

ChopperST

loveGSDs wrote: »

is that based on 87k mortgage - ie not putting any of the savings in?

Yes obviously your savings would lower the LTV.

Thrugelmir

loveGSDs wrote: »

using the savings to pay off some of the mortgage is something i have considered, however i decided not to because im worried about property prices falling even more and therefore losing more money

Focus on reducing the mortgage debt. As this is something you can make an impact on. House prices you have no control over.

If you plan on moving one day. Then falling property prices will actually be in your favour. Sounds perverse but very true.

loveGSDs

thanks everyone for your help

after lots of discussions last nite with OH we have come to a decision and made an appointment with a mortgage advisor with nationwide.

the plan is to reduce our mortgage by lump sum with some of our cash savings (but keep some aside for emergencies etc) and then overpay on the new deal by approx £100 a month whilst still putting money into savings.

also planning on opening a new joint account to get further benefits such as free valuation/cash back etc

only worry now is that we are either rejected or our house is valued really low :eek:

one last question - the valuation carried out by the mortgage company, how detailed is it? do they just come out and have a look round etc like estate agents do or is it more in depth like the home report valuation?

thanks

xx

kingstreet

loveGSDs wrote: »

one last question - the valuation carried out by the mortgage company, how detailed is it? do they just come out and have a look round etc like estate agents do or is it more in depth like the home report valuation

One pager. Takes about twenty minutes at most.