Remortgage

angle6

Hi i have currently my mortgage fixed for two years until the end of November. i want to renew it but so confuse with the interest rates. i dont want to pay any fees so looking for best deals preferably for three to five years. Please help as i m not very good at it. i have already lost so much money with the wrong mortgage deals in the past. Please put me in the right direction. i m a single parent so always try to save pennies. Thanks you

michelle2008

What is the svr you will revert to?

Jimbo1976

If the idea of searching for a new mortgage fills you with dread, speak to a mortgage broker. Some of them don't charge fees, the largest of these is London and Country.

However you speak to your existing lender first to see what they will offer you.

Whilst i understand your desire to avoid fees, with some mortgage (especially longer term ones like 5 year fixed rates), it is cheaper to pay a fee to get a lower rate. However it is also linked to your mortgage size. A good broker will scour the market for you to help you find the best deal.

ACG

Its too hard to answer that question on an open forum. Also the advisors on here arnt allowed to without having conducted a fact fine.

There are a lot of things to take into account:
Income,
Property Value,
Outstanding Mortgage,
Your credit history and a few others things also.

If you dont want to or cant do it yourself then you do really need to consult a broker. Not all of them will charge, a lot will be happy with the commission off the mortgage.

Doshwaster

angle6 wrote: »

Hi i have currently my mortgage fixed for two years until the end of November. i want to renew it but so confuse with the interest rates. i dont want to pay any fees so looking for best deals preferably for three to five years. Please help as i m not very good at it. i have already lost so much money with the wrong mortgage deals in the past. Please put me in the right direction. i m a single parent so always try to save pennies. Thanks you

I wouldn't get too hung up on not paying a fee. If you are looking to spend tens of thousands on repayments over the next few years then a small-ish fee now is fairly irrelevant, especially if it saves you money in the longer term.

I remortgaged in the spring and moved to another lender. The process was fairly slow but it was very painless. Just fill in a few forms and then let people do their jobs.

It's worth taking some time to meet with an independent mortgage advisor.

Conrad

Jimbo1976 wrote: »

If the idea of searching for a new mortgage fills you with dread, speak to a mortgage broker. Some of them don't charge fees, the largest of these is London and Country.

A good broker will scour the market for you to help you find the best deal.

L&C will not 'scour the market'. They will only arrange mortgages that pay them commision. They will thus leave out lots of marekt leading deals.


Very often 'fees free' is a real cost.

Jimbo1976

Conrad.

I did not say that L&C would "scour the market" market.

However if you have a look on the L&C website it has a tab for deals "where L&C can manage your application" and another tab showing the rest where it does list deals which don't pay it proc fees, HSBC, First Direct etc.

Are these the "market leading" deals you are saying they don't offer?