Fixed mortage ending - When to contact Lender for new deal?

dsab

My current Fixed rate will end within the next 3 months. When would it be ok for me to contact the Lender to see what new fixed deal they could offer me?

Also, could I call them at any time and ask them what they consider the current Value of the house to be (and accordingly current LTV)? Since we bought the house overall prices in our Area have gone up by about 10% (conservative estimate), and that should ideally bring us into the next lower LTV Bracket. If not I would now make up any shortfall of getting into the next Bracket by making a overpayment.

lee111s

They'll more than likely write to you about a month before. If you wait for this it does limit your options. Should you wish to change lender to achieve a better rate it can take around 8 weeks for a remortgage.

I'm sure if you ring them they'll tell you the same. They'll be able to give you a desktop valuation of what they think your house is worth.

If like me you got the house considerably below market value or have done extensive renovations then you may want to pay for a new valuation of your property. My lender charge £70 for this.

Thrugelmir

No harm in making overpayments if your circumstances allow and it makes financial sense.

kingstreet

Halifax is now contacting our clients three months from expiry, so we have moved to four!