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Re-mortgaging Q's

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vickster0304
vickster0304 Posts: 14 Forumite
in Mortgages & endowments
We currently are in a fixed rate mortgage which is due to end 02.09.07. The early redemtion penalty is too high to leave until that date. Is there anything we can do to secure a good rate with another provider now to be put in place when our fixed rate ends or do we have to wait until nearer the time??
June GC No budget. Spent £166.83
Mortgage £128,615 (June 2008)
Over paying mortgage from Aug 08 by £124 per month.

I just want to save money

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    There are some lenders that can issue a mortgage offer letter valid for 6 months.

    All you would need to do is delay compelting the re-mortgage until after the penalty period had expired

    HTH
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • vickster0304
    vickster0304 Posts: 14 Forumite
    Do you know who? We are looking for a mortgage with no tie-ins as we may move, but do not want to revert to Abbey's high SVR.
    June GC No budget. Spent £166.83
    Mortgage £128,615 (June 2008)
    Over paying mortgage from Aug 08 by £124 per month.

    I just want to save money
  • sarkin
    sarkin Posts: 785 Forumite
    your new mortgage should be portable, if you do decide to move you can then get afurther advance from your new lender
This discussion has been closed.
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