Mortgage - current deal ending.

getmore4less

lee111s wrote: »

Perhaps, however a lot of people are risk averse and like to know exactly what they'll be paying for how long. Which is why I suspect far more people are on fixed rate mortgages than those who are on trackers/variable rates.

They may actually be increasing risk by going fixed.

pinkteapot

We remortgaged last year, ironically from one lifetime tracker to another.

Process is easy, but there are various fees and costs (any account closing fee at old lender, and none/some/all of conveyancing, valuation survey and booking fee at new lender), so you need to tot up the total cost of switching and weight it against the monthly saving.

Remortgaging is increasingly common, like energy-switching. Lenders know this full-well and will be making their money somehow.

The "account fee" - a mysterious couple of hundred quid that you can pay at the start or end of a mortgage (ie start or when you switch away) seems to be more common and increasing in cost in recent years.

charlie007

I am going to email the current lender in the morning and see what the best that they can offer is and compare all the details. I naively thought that it would be as easy as switching a phone contract.