want to get ready to remortgage.

footymadhouse

Hi At the moment we are stuck on a high interest mortgage and cant change it until the end of July due to the high redemption charges. Could anyone advise when the best time to start sorting out the mortgage would be. At the moment we are paying 780 for 115,000. We have not missed a payment but not to sure whether we can get a better deal as my partner is self employed and i am on benefits.

Any advise would be greatly appreciated as really dont know when to start or what chance we have of getting the payments down.

Thanks

Forreal

No time like the present. I didn't realise that you could arrange a new product in advance, some let you arrange 6 months before you require it.

I've just accepted an offer on a fixed rate and my current product does not finish until 31/04/07.

Merlin139

I started looking for my re-mortgage in July last year, made the decision at the beginning of Oct to switch to Brittania from YBS. YBS could not offer a new deal until 60 days before old fixed rate ran out.

footymadhouse

thanks for that we will start looking now - do you know the best way to go around it without having loads of credit checks done as i dont want to mess it up this time.

raq

Similar situation.

£740.00 interest only on a £130,000.00. Ours is due up in September and I think our's is high . We knew this at the time as we have self-cert. do hope we have a much better offer when it's due. Think I'll get the ball rolling in a couple of months time.

raq

footymadhouse wrote:

Hi At the moment we are stuck on a high interest mortgage and cant change it until the end of July due to the high redemption charges. Could anyone advise when the best time to start sorting out the mortgage would be. At the moment we are paying 780 for 115,000. We have not missed a payment but not to sure whether we can get a better deal as my partner is self employed and i am on benefits.

Any advise would be greatly appreciated as really dont know when to start or what chance we have of getting the payments down.

Thanks

oh by the way , who is your mortgage lender ?

footymadhouse

redstone in north yorkshire. My financial adviser sorted it, but didnt really realise what type of mortgage it was was going through divorce and head was all over the place. Do not want to make the same mistake twice.

VERYFEWBRAINCELLS

hi footy madhouse

i,m in same boat, i,m paying 1.5% above base rate for four years it goes up to 3% above base rate in june. i,m paying £487.23 on £62000 ( i put down £30000 deposit.) i think its disgusting the way they take advantage of people in our position( self cert). i have missed no payments in 30 months ( i,ve actually paid a few overpayments) and they still want to class me as high risk.

if you find anything please let me know and i will do likewise.

p.s sorry i hijacked your thread

footymadhouse

will do - same if you do. There must be someone out there who realises that we are probably a better risk then most. what a crazy world we live in!!!!