Fixed rate ending soon - when can we apply for new mortgage

runboy

If our fixed rate is coming to an end in a year (it's with Nationwide), how soon can we start to look around for a new mortgage, both with the Nationwide and a new provider? I presume we are limited to how long a new offer lasts for? Thanks in advance.

Thrugelmir

What NW rate do you default onto when the fixed term ends?

The_J

I'd say generally 3 months before the end of the fix

runboy

Thrugelmir wrote: »

What NW rate do you default onto when the fixed term ends?

I'm presuming their standard variable rate.

michelle2008

The nationwide wrote to me several times in the three months coming up to the end of my fixed - with increasing urgency!! They will be keen for you to buy a new deal particularly if you are reverting to their 2.5% rate!

withabix

If your 'fix' was done before 2010, you will go back onto the 'traditional' SVR with most lenders (ie 2-2.5%).

If it was 2010 or later, many lenders now have a 'homeowner variable rate' instead, which will be about 4-4.5%, the thieving shysters.

Perelandra

Some lenders will you you an offer that is valid for 6 months.

I started looking about 5 months in advance of mine ending, as I felt that rates were likely to go up so wanted to lock in earlier rather than later. However, as those more knowledgeable than I have already pointed out above- you need to know which rate you'll roll onto, as this could actually be as good, or better than other rates currently available (and avoiding hassle!).