How soon can I remortgage

Cardinal-Red

Hi all - looking for some quick advice from you all.

My partner and I have a mortgage for around £120,000 minus whatever capital payments will be made from nearly 2 years of payments (25 year capital/interest mortgage.)

We are on a 3 year fixed deal which ends on 01/07/08, at which point we were planning to sell up and move to another city.

Now however that has changed and we'll be looking to stay for another 2 years until the summer of 2010. But I'm of the belief that the next 12 months will see rising interest rates, and so I'd be keen to extend my fixed rate now.

Will a lender (ours in C&G) entertain such an idea? There's 14 months or so left on the fixed rate detail before reverting to SVR which I'm obviously keen to avoid.

When I say extend, I mean offer us a new deal now, say fixed for 3 years, at today's market prices, rather than extending our original rate.

Thanks guys!

homer_j_3

they will keep you on the same rate until the agreed date - they will not renegotiate without you paying the early repayment charge.

You should normally start your remortgage about 6-8 weeks before your deal comes to an end.

Cardinal-Red

Hmmmm as I suspected - oh well, worth a shot!
Cheers!

MarkyMarkD

homer_j wrote: »

You should normally start your remortgage about 6-8 weeks before your deal comes to an end.

Or probably some time later than that for a product switch with your existing lender - between one month and two weeks, more likely.