Remortgaging options - first time remortgaging

bingobangobongo

So I have never remortgaged before and my 2 year fixed deal at 1.98% is coming to an end in Sept.

How do people go about remortgaging, I assume approach my current lender first and see what they can offer - but see what I could get by looking at comparison sites~?

What if the value of my property goes up, for example if I have put in a new kitchen and bathroom which would increase the property price, would a mortgage company take this into account for a better LTV%?

Do most mortgage companies charge a fee or will they waive it?

Thanks

fort

have a read -
http://www.moneysavingexpert.com/mortgages/remortgage-guide

Joy_mate

Indeed. First approach to ur current lender for any better deal. So they might offer you low interest with no fees. But if you go to another lender than of course ur fees will depend upon the deal u choos. Less interest often has high fees.
1. If you have any addition in ur property, lender will consider it in current market value. So you have chance for better interest rate with low LTV against ur current property value.
2. Or you can borrow more and relief equity for future use.
All will depend on ur affordibility,
Good luck

bingobangobongo

Thanks all

Will my current lender only give me one of their deals I can see on their website?

They said I had to go through the whole application process again on the phone which would take an hour.

I see First Direct have a 5 year fee free fixed for 2.18% which is 0.2% more than I am paying now, so maybe that would be a good deal?

My deal ends of 31 August and I don't know where to start.