remortagage help please

pizzaboy

Hi all

I have just come to the end of a three year variable rate and am looking to remortgage and borrow between £5k and £10k

Im currently with scottish widows with a £45k mortgage and have approached them about a new deal,and they have sent me around ten offers,not with borrowing extra,i forgot to mention that at the time.

I have 22 years left to pay but would like to shorten to 20.
My question is,is it cheaper to go with an exsisting lender or shop around?

I would like a fixed rate for 2 or 3 years i think.

herbiesjp

YOu would need to back back to SW and get figures for the correct loan amount and correct term

Then armed with that you would have to then compare against other deals provided by other lenders.

If you are comfortable with that and can do on your own, you can read MArtin's guide and have a go, otherwise you would need to enlist the serviced of a whole of market adviser

HTH

pizzaboy

Thanks for that,i will do that and have read martins guide,i just wondered if when it comes to fees and credit checks,in general..was it cheaper to go with an exsisting lender.

herbiesjp

SOmetimes it can work out cheaper to stay put, other times it will work out more expensive.

It boils down to the individual situation as to which method is best

Somepeople do not like the hassle, and just stay put, however a re-mortgage process should pretty much be stress free as well

pizzaboy

herbiesjp wrote: »

SOmetimes it can work out cheaper to stay put, other times it will work out more expensive.

It boils down to the individual situation as to which method is best

Somepeople do not like the hassle, and just stay put, however a re-mortgage process should pretty much be stress free as well

Im not to worried about stress or hassle as long as a save money in the long term