Mortgage Fixed Rate coming to an end.

Benno1983

Hi all,

Our current 2 year fixed rate mortgage is coming to an end shortly. How do I go about renewing my deal an do we have to carry out a new application?

Thanks

HappyMJ

What's the variable rate that it is reverting to? It may be a competitive rate.

kingstreet

Your mortgage will have a follow-on rate onto which your mortgage will roll when the fix ends. You need to know what that is.

Your lender may have customer retention products you can consider as an alternative to the follow-on rate. You need to ask them for details of what is available. You do not normally need to apply, but a fee may be payable/added to the mortgage.

Finally, you may wish to look at other lender's remortgage products. Many allow you to transfer your mortgage to a new lender "fee-free" so it costs you nothing to get a new mortgage elsewhere.