95% remortgage deal

factor29

My 95% 3 year fixed mortgage deal comes to an end in July.

Currently on a 6.something % rate so happy its finally dropping quite a bit! :j

Question is, are there any downfalls to remaining on the SVR?

We need a mortgage for 92.5% of the value of the property.

The lender doesnt offer any 95% remortgage deals, so its either stick with SVR or find somewhere elsewhere I guess

Had a look elsewhere and fixed deals do not seem any better than the 4.95% SVR that Yorkshire bank are currently showing.

Elsewhere would also mean valuation fees, credit checks blah blah blah!

Funny_old_game

SVR it is. Pay more off now the rates reducing to make you more appealing to lenders in the future.

You are high risk and therefore cannot remortgage at the moment.

Slayerx

Speak to the bank and ask what they have your LTV as.

More lenders will use the HPI (House price index) and if it really is 92.5% then you could see how much you need to pay off to get to the next threshold.

Most lenders Yorkshire Bank included will offer a better rate at 90%

While your on SVR with most lenders you can overpay as much as you want, this is something you could take full advantage of.