Remortgage help please

bear.1973

Hi
My fixed rate had expired.Currently with nationwide.
need to borrow £119000 over 20yrs. Property value £165000 current LTV 72%

I've searched whole of market and the suggested best deals on MSE but they seem to be different from what is actually on the lenders we page?

My aim is to get good rate with little or no application fee to bring monthly payments down. I would also like to reduce the term of mortgage by paying extra each month without penalty.

Current repayment after fixed rate has exp is £725 mth @ 3.99% was paying £700 @ 3.89%

I can still afford to pay 700 but want that to include the overpayment, for example if I can get a repayment for approx 600 but keep payments at700 this will reduce the term.

Hope thus makes sense!

Anyone suggest any good deals given the info above.

Many thanks.

amnblog

If you want to get this right consult a mortgage broker about your particular objectives.

bear.1973

Thanks for the reply. Yes I understand a broker could give me further advice however I was looking for some general advice on the forum before I consulted a broker. Has anyone recently saw/secured any good remortgage deals that type of thing. Thanks All : )

Thrugelmir

bear.1973 wrote: »

I can still afford to pay 700 but want that to include the overpayment, for example if I can get a repayment for approx 600 but keep payments at700 this will reduce the term.

Odds of obtaining a rate of 2% are extremely unlikely.

Have you factored in the costs of remortgaging? Legal and valuation fees. Let alone product fees.

kingstreet

Ask your current lender for details of its customer retention products as these are available without transfer costs and without further status checks.

There may be a product fee to get a better rate, but this will be the same for remortgage products.

bear.1973

Thanks for the advice. I'll ask current lender about this. X