Remortgage advice current mortgage with Accord

missma

Hi

Went to Mortgage advisor today as our current deal is running out in June 2012. Our view prior to going was that we probably did not want a new deal we were tied into as we would really like to move. I knew prior to going our options were probably limited. Our current house is a 2 Bedroom 1920's Terrace in Belfast. Our current mortage is with Accord and was Fixed at 5.49% until June 2012. This then moves to SVR AT 5.99%.

Our outstanding mortgage debt is about £84400 On the advisor contacting Accord they do a deal at 4.79% fixed for 2 years tie in, with no fees. This is for 90 LTV, they have our property valued currently on there system via House price index at £92200. (really think of a surveyor came out would be valued less than this, been advised this is value is what Accord will use.) Advisor suggested using about £2500 saving to put into morgage to try get this deal.


Have we any other options, we have excellent credit histories, or is this a good deal. Was advised we may need to move quickly as some SVR rates being offered have changed and others could follow. Advice Welcomed Thanks

betmunch

You say you dont want a tie in then ask if you should accept a tie in. I'm confused about this.

If you want to move, is this actually possible for you? If it is then I would get moving rather than tying yourself to a new fixed rate.

If the mortgage is portable you may still be able to keep it and port, however that will be a new application at that time, which you may or may not pass.

I think the key to this is how soon do you want to move, if it is imminent and it is possible then dont risk tying in, just pay a few extra quid for a few months and take a new mortgage when you move.

missma

Suppose we are in much same situation we were two years ago when we fixed, want to move but not sure in reality of housing market at present if it is possible. Houses are selling in our street but suppose depends what we would get for ours. This mortgage is portable, supposed scared if we move to the 5.99 variable rates will change. We have been over paying on our mortgage.

missma

Any more advice please on above, is there many 95% mortgages out there (sorry my question mark key not working)