Remortgage Help

superdon

Hi,

Our fixed rate expires at the end of July, with HSBC. We are looking around at deals, and wanted to know what HSBC would do for us. Apparently, they wont make a new offer until 6 weeks before the end of the mortgage. But, with the probably interest rate increase soon, we wanted to try and get sorted before then.

Is this normal from HSBC?

We have seen what we think is a good rate at Brtainnia. Its a 3 year fixed, at 5.79% with £399 arrangement, but free solicitor and valuation. Hows that sound?

We have a house worth 135,000 and the remortgage will be 109,000. We are wanting a repayment mortgage and would ideally want the option to overpay as well.

Any ideas? Would Britannie give us the deal to complete at end of July? Also, when is the £399 arrangement payable? could we proceed with the Britannia application (or another other application) and when we get the offer from HSBC in a couple of weeks, could we ditch the new app with no penalty?

Sorry for all the questions.

herbiesjp

You can do exactly what you are asking.

You can apply to most lenders now for a re-mortgage, as they will issue an offer letter valid for 3 or 6 months. This way you have got the guarantee of a good rate if HSBC cannot offer you a good deal.

HTH