Need to renegotiate mortgage but also selling!

Jhoney_2

amnblog wrote: »

This sounds like a Santander Loyalty re-mortgage product - I though you were talking about a product switch with your existing lender.

Existing customer moving home?

Tracker is available whether you move or not, AFAIK.

I am looking for an alternative product now, that I can move with if I sell before it ends. I thought the tracker could do that.

Even if not, I may take a tracker product to stay off the SVR. Any cons to doing that?

amnblog

I don't know your full situation, but I suspect you may be about to shoot yourself in the foot here.


Swopping products/mortgages weeks prior to an intended move is not a good idea.

Jhoney_2

I have no idea if I will have moved in weeks, certainly I am not even on the market yet, but in a few weeks, I fall onto the SVR. I would like to pay something other than that rate and even a quick sale takes a while to complete.

I appreciate you highlighting it though.

Was my read of the tracker correct re terms?

amnblog

I don't know - who is the Lender?

Jhoney_2

Sorry, Santander I thought I said that. I copied that product info from their website.

amnblog

You are not moving home yet are you?

Jhoney_2

No amnblog, Not until summer at best more likely longer but before 2017!.

amnblog

The product you suggest here appears to be for existing Santander customers who are moving home now.

Jhoney_2

Ah, I see.

Well the ones they are offering me online are the 1.39 or 2.49 lifetime trackers with a 499 product fee.

I saw that one myself, so will check again.

Thanks

dimbo61

So you would need to pay a £499 fee and then HOPE that you can save that much in the next few months until you sell?