Mortgage renewal

james3333

hi all,
just a quick one.... my mortgage is due for renewal in may, how soon can i apply for another offer ( is it a standard amount of time no matter which company i go with?)
cheers

pjcox2005

It's normally 90 days, so you probably fine to apply now unless the mortgage term finishes at the end of May, in which case you may need to wait a week or so.

mrginge

Depends. Can be up to six months.

amnblog

When you are ready is the best answer given where we are.

james3333

cool thanks guys, i guess there is no 'set time frame' for this... best start looking and trying to secure a deal now....:money:
im with halifax and want to stay with them ( so no fees)
im now in the 60% BTL bracket too, so should get a good deal!! think i will fix for 5 years now.... the boe rate has gota start to go up soon.... !?

james3333

cant decide now wether to get a 2 year fix or 5 year... :mad::mad:!!!???? not much in it as far as monthly payments are concerned...
any suggestions ( baring in mind BRITEX) and the state of the economy?

dexterwolf

I would fix for 5 years at least then you know what you will be paying. That is just me though, My fixed rate ends in August so I need to get a new Fix mortgage possibly for 3 years but we are looking to move in the next 6/12months.

james3333

dexterwolf wrote: »

I would fix for 5 years at least then you know what you will be paying. That is just me though, My fixed rate ends in August so I need to get a new Fix mortgage possibly for 3 years but we are looking to move in the next 6/12months.

YEH, i have fixed for 5 years... who knows what might happen if/if not we leave EU!?

Gemzf89

I wonder if anyone has had a similar problem, I went through a mortgage advisor to remortgage my rural property, it was accepted with RBS and all we were waiting on was the valuation.

The Surveyor from WALKER FRASER STEELE of Glasgow came to our property last week, just to put you in the picture i live in the country in a courtyard setting, there is 1 property to 1 side of me and a barn to the other side.

We mortgaged the house in 2013 and it was valued then at £95,000 the place was a total mess at that time, since then we have spent about £20,000 and have completely renovated the entire house and stoned the full court yard and road end.

The surveyor was very pleasant and kept saying how nice the property was, we had told the advisor the house value was approx £140,000 now, the surveyor said on several occasions that amount was too low and that he would value the property as high as he could and advised he thought in the region of £175,000 was more likely. He said there would be no problems and that the barn would not be taken into consideration for his valuation and that he would submit the details to RBS that night and a mortgage offer would be sent out.

As he left we were left feeling really happy that the property would value a good bit more than we had thought. we were waiting for the good news when our mortgage advisor called at the beginning of this week and advised that he had bad news, this is not what we were expecting, he advised that the surveyor had told RBS our property was not in a mortgageable conditon that it was a terraced house and there was a delapitated barn next to the property.

Shocked and some what stunned at this news the advisor was also stumped he said usually that only happens when a property has no kitchen or bathroom, ours were done up less than a year ago as has every room in the house been done up. I called and asked to speak to the surveyor to be told that their client was RBS and not me and as such they will not discuss anythng with me.

Has anyone else ever had this problem, I am disgusted with the way this has been handled and the sheer lies from this surveyor not 1 single problem, or potential problem was told to us, everything went great or so we thought and then he has gone away and done this.

I have also emailed their operations director who also just says he will not comment, not even on the actions of his surveyor. It seems this is an acceptable way to treat people for this company. The mortgage advisor cannot see why this has been advised and has asked for more information but it is unlikely they will provide any further answers.