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First Remortgage on Shared Owenership - How soon to shop?

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JonnyNewBuild
JonnyNewBuild Posts: 15 Forumite
in Mortgages & endowments
My current 3yr mortgage deal on my Shared Ownership Property is due to end on 31/07. How soon can I start talking to people about a new deal?

Been having a shop around online but I know I need to speak to people due to the shared ownership factor. The flat is now over 3 years old so I don't think that this counts as a new build anymore which should help us out.

Any advice is gratefully received.

Comments

  • betmunch
    betmunch Posts: 3,126 Forumite
    I usually contact clients 3 and a half months before the product ends.

    Most remortgages offers are valid for 3 months so this gives time for a meeting, and underwriters to faff about with it and then finally complete the remo just before the offer runs out
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • JonnyNewBuild
    JonnyNewBuild Posts: 15 Forumite
    Thanks for the advice, I'll give it a month or so then. Any recommendations for shared ownership lenders at the moment? Currently with Leeds BS
  • betmunch
    betmunch Posts: 3,126 Forumite
    I can only recommend to people that I have done a full fact find with I'm afraid.

    If your not sure about doing it yourself get in contact with an Independent Mortgage Advisor they will be happy to help
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • JonnyNewBuild
    JonnyNewBuild Posts: 15 Forumite
    Of course, sorry shouldn't have asked.

    I'm going to try HSBC first as I bank with them. Failing that I'll down the Independent Mortgage Advisor route.

    Thanks for your help.
  • betmunch
    betmunch Posts: 3,126 Forumite
    No harm in asking, dont worry about it.

    Sounds like a decent plan to me
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Hi there,

    Search this forum for hsbc mortgage and you may want to review that, especially as 3 year old shared ownership
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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