How far In advance can you get a new mortgage deal?

20vt-rs

I'm approaching the end of my current 5 year fixed rate deal, currently at 5.79% until 31st Aug this year. Now I am eager to get a great deal, so would like to get one ASAP, but how far in advance should I start looking?

Second question is, is a fixed rate a good idea now? I did my best to get the 5.79% when the rates were rising, then a year later they bottomed out and I kinda wished I hadn't! Any tips appreciated!

I'm After a £138k mortgage on a property valued at approx £200k

Thank you

ACG

I call clients up around 3 months before their deal is due to finish. I would say you have another month or 2 atleast.

Thrugelmir

What's the contracted follow on rate?

Worth checking before deciding your course of action.

20vt-rs

Thrugelmir wrote: »

What's the contracted follow on rate?

Worth checking before deciding your course of action.

Thanks you for the info, I will have to check the follow on rate with the Halifax to see what’s what on that. I guess if it’s close to the fix rate deals that are around it may be worth staying put?

20vt-rs

Thrugelmir wrote: »

What's the contracted follow on rate?

Worth checking before deciding your course of action.

I’ve checked my recent paperwork from the Halifax, the standard variable rate that I’d fall back onto is currently at 3.99%, it has just increased to that from 3.50%. So perhaps I should see what the standard rate is when my mortgage fix expires and fall onto that until things start changing?

The_J

With a LTV of around 70% you should certainly be able to beat that on a 2/3yr deal and match it on a 5 year fix. Many lenders allow their offers to stand for 3 months, some are up to 6. I would probably wait until the middle of June but I would suggest getting something secured early as the rates have been gradually rising all year with the uncertainty in Europe and the wider money markets continuing.

20vt-rs

The_J wrote: »

With a LTV of around 70% you should certainly be able to beat that on a 2/3yr deal and match it on a 5 year fix. Many lenders allow their offers to stand for 3 months, some are up to 6. I would probably wait until the middle of June but I would suggest getting something secured early as the rates have been gradually rising all year with the uncertainty in Europe and the wider money markets continuing.

Ok thank's for the advice, I'll bear that in mind and will probably give my advisor a call early doors in June to set something up...