Mortgage offer issued through broker - can I apply for another product directly

Dave_Ham

Unless your circumstances dramatically change, the SVR is not that relevant.

Most lenders offer fee free remortgages so I would largely compare like for like now.

ItsyBitsySpider

Dave_Ham wrote: »

Unless your circumstances dramatically change, the SVR is not that relevant.

Most lenders offer fee free remortgages so I would largely compare like for like now.

Dave Ham, thanks again for your response. We may change jobs or may partner may be on maternity which I guess may make it difficult to move to another lender, if I am not mistaken.

Do you mean most lenders offer free remortgages for their existing customers or for the customers coming from other lenders. Could you please explain about comparing like for like now. Pardon me for my ignorance in these matters being a FTB

Dave_Ham

When you have a mortgage and are just remortgaging (ie not buying) then valuation and legals are typically free.

You additionally may find that your chosen lender will offer you a retention product at the end of fix period and this will suffer no further underwriting.

Please note, maternity is not necessarily an issue when remortgaging dependent upon the detail of course.

Sometimes this is the issue with a fee free broker. Through no fault of your own, you do not have a good enough appreciation of the process and your options as they have just shopped a mortgage for you based upon your information.

Your broker should have covered this off with you..

All the best

Voyager2002

ItsyBitsySpider wrote: »

Dave Ham, thanks again for your response. We may change jobs or may partner may be on maternity which I guess may make it difficult to move to another lender, if I am not mistaken.

Do you mean most lenders offer free remortgages for their existing customers or for the customers coming from other lenders. Could you please explain about comparing like for like now. Pardon me for my ignorance in these matters being a FTB

Most lenders will offer fee-free deals to their existing customers, so the difference in SVR does not tell you much. What you need to know is that deals Santander and Abbey will be offering in two years' time, and of course that is something that we cannot know.