Any brokers out there? Could you better this?

robomomkey

Hi

I'm now in the process of remortgaging, awhile ago I had a bad experience with a broker, that and all the comparison sites, have put me off using them.

But I am curious...

I'm very lucky in that I've got a good job, and no debts, and a spotless credit rating.

I've currently got an offer from Halifax at 2.84% fixed for two years on 114,000, with a house worth £160,500 (according to Halifax's computer). There are no fees as I'm an existing customer. I plan to overpay to make a total payment of £1,000 per month, according to the calculators on mse I will have £95,958 left after two years.

A potential spanner in the works is that I think my house is only worth £150,000 max more likely £145,000.

Are there better deals out there that are exclusive to brokers?

Thrugelmir

As an existing customer the actual value of your property doesn't have such a bearing on what's on offer.

With rate rises on the horizon. A 2 year fix isn't ideal if you intend to remain on the property for a longer period.

ACG

2.48% with no fees or 1.89% with £800 fees.

Thats doing a very quick and basic search.

You may or may not be eligible for them, but there are lower rates available, although not massively.

I cant say which lenders however, as it could be seen as leading.

robomomkey

Thrugelmir, thanks I agree the 2 year is a risk, but only only expect the br to increase to 1.25% in the next 24 months, so it's a risk I'm happy to take.

ACG, Thanks also, interesting, would those rates have valuation fees to pay?

ACG

Ive closed it all down now so im not sure but i think the figures i gave are the total fees - including valuation fees where applicable.

Remortgages quite often come with free valuations.

robomomkey

Thanks ACG, I've sent you a PM.

pixie__girlie

Robomomkey, I hope you don't mind me asking, I'm sorting out a remortgage too and would like to stay with the Halifax at the end of my fix... is that 2.84 fixed amount the initial rate, or the overall cost?

If its the overall rate, did you have to make an appointment with Halifax to get that? I can't find anything as good on their website. Thanks in advance

amnblog

You are probably looking at the wrong page.

It will be in the existing customer section.

kingstreet

Customer retention product/product transfer = existing borrower not moving home, looking for new deal.

Remortgage = new mortgage from new lender to repay existing mortgage on existing property.

Take care, as products will be different for each.

robomomkey

Hi

As above it's under the existing customers page, or I think it's called switching deals. 2.84 is the initial rate for 2 years reverting to SVR.

I applied on the telephone, took about an hour.

pixie__girlie wrote: »

Robomomkey, I hope you don't mind me asking, I'm sorting out a remortgage too and would like to stay with the Halifax at the end of my fix... is that 2.84 fixed amount the initial rate, or the overall cost?

If its the overall rate, did you have to make an appointment with Halifax to get that? I can't find anything as good on their website. Thanks in advance