Remortgage questions please

moomi

Hello everyone, I'm looking for help please.

I have mortgage with Halifax (currently £78,400 in total)which is made up of the following:

Sub acct1-
variable mortgage tracks at 0.54% above Bank of England Base Rate until the term of the mortgage (15 years 10 months)

Interest rate today 1.04% current monthly payment £161.88

AND Sub acct2-
Fixed Rate mortgage until 30 Nov 2014

Interest rate today 3.84% current monthly payment: £371.81

I'm trying to find out a couple of things please-
1. can I keep the tracker bit with Halifax & just remortgage the larger portion (depending on what deals Halifax offer)
2. Is it better to get a lower fee & reasonable fixed rate or vice versa in the long run?
3. When should I start looking?

I think that's it for the moment! Thanks for reading

Thrugelmir

If you remain with the Halifax you won't be remortgaging. You'll just need to choose a new product from the Halifax for sub account 2 .

It's not possible to hold a mortgage with 2 different lenders.

Give the Halifax a call.

moomi

I knew someone would know thanks so much. All I need now is a good rate for the new product! I can't see point in swapping the whole lot as the tracker is so low ( well, in my opinion)

Thrugelmir

[QUOTE=moomi;66231763_I_can't_see_point_in_swapping_the_whole_lot_as_the_tracker_is_so_low_(_well,_in_my_opinion)[/QUOTE]

Simple answer is don't.

Overpay the other part though if this is affordable.

moomi

Already doing that Thrugelmir Cheers again.

getmore4less

What rate does sub2 revert to.
how big is each bit.

moomi

Sub 2 will revert to halifax svr currently 3.99%

Sub acct 1 balance remaining £27,414.53

Sub acct 2 balance remaining £50,985.47

Mortgage_Mark_2

What's the value of your property?

moomi

That I can't tell you but just rang halifax & the loan to value is £46%

moomi

Also early repayment fee of £1020.76 (which they will waive if I stay with them but can't arrange until 1st Sept)