Remortgage help

chelseablue

My fixed rate is up in August and I have no idea what Im supposed to do

I purchased my flat in August 2010 on a 3 year fixed rate of 3.95%

I presume the lender will write to me nearer the time with my options.

Is it too early to start looking around at other rates now?

Dave_Ham

3 stage process;

Ascertain what the Standard Variable Rate (SVR) goes to when your current deal expires.

Secondly, ask the lender what products are available now to retain your business.

Lastly, compare the above with what you can get on the open market.

Good luck

chelseablue

Thank you

The SVR is currently 4.99%

Will they contact me with anything new they can offer me? Or do I have to approach them?

How soon should I start contacting them or shopping around?

Sorry this is my first remortgage so never had to do this before

ilnf

I don't know if this is standard practice but my lender wrote to me about 4 months before fix was up basically saying 'call us if you want a new deal otherwise you'll be on the SVR in 4 months'.

Hope this helps.

SupremeUK

Hi

I'm in the same boat. Current mortgage is with YBS. I phoned their call centre and asked what I can change too, and they offered me the same offset mortgage at 4.29%. I then asked if there was anything better, since the bank of England rate was 0.5.
The adviser said that they weren't offering any other products, and if I were to move, I would have to get a solicitor to handle the mortgage transfer.
Any thoughts on this?
Do I need to get a solicitor, or will the new bank I go with handle the process of moving the mortgage across?

Thanks for your advice