[remortgage]When should you start looking (fixed rate ending)

VFR-Rider

Morning all,

When would it be advisable to start looking for a new mortgage deal? My details:

Fixed rate (nationwide) @ 5.69% (I know, I know)
FR (3 year) ends - May 15
ERC 4%
Outstanding £265
Value ~£360 (bought at £315 but have completely refurbed)
Currently I'm being restricted by the £500/m overpayment so would like more flex.

I've also changed circumstances, was employed when I took out the mortgage (FTB) but am now Ltd. company, as of April 2013 (I suspect affordability will be fine, but obviously big circumstance change).

Finally of the brokers on here (I've been lurking a lot) - Do you work 'remotely'? I don't think I'm physically that close to any of you (I mean the 4 of you that are prolific here :P )... but "like your style" as it were.

Thrugelmir

Comeback next year. Much could change in the coming months.

Initially start with your current lender as to the options available. Then you've a base on which to make comparisons.

Next year you'll have 2 years of Limited Company accounts as well.

VFR-Rider

Figured as much, but wanted to check (horror stories of remortgages taking months etc.)

Many thanks Thrugelmir!

lee111s

Most people suggest about 3 months as most mortgage lenders will allow you to "reserve" a product for 3 months.

VFR-Rider

Dragging up (old ghosts and all that!).

My world changed and I'm ending up buying a new place and changing my existing to a BTL.

I badgered one of the more prolific MA's on here to take my case... So far it's been easier than the first purchase (through L&C) even with the case being much, much more complex and my control freak tendencies.

I've no idea where the broker line should end but for me I'm dealing with a single person (apart from dodging the EA on the purchase) and he's chasing everything quickly and completely.

Seriously guys, value your time & use the expertise of a broker!

VFR-Rider

.....and completed.

Fantastic hand-holding by the broker (thanks again!) all the way through, fantastic solicitor on the remortgage side, incompetent idiots on the sale side, but all said and done timelines were hit & the moving guys are busy...

dimbo61

Mortgage world has changed a lot in last 12 months so hope you got great rates on both mortgages :-)

amnblog

Remotely is the only way to work.


Who would want to stare at my ugly mug?