Remortgage question.

squibbs25

So if i got an offer in principal from say Halifax, then say 'Abbey' (off the top of my head) had a better deal alot nearer the time, i would be free to go with the 'Abbey' ?

herbiesjp

As long as you do not sign and return any of the legal paperwork and offer letter - yes.

Again this depends on the lender, so if you are going direct be careful and ask the right questions.

squibbs25

Would we be 'pressured' into signing the paperwork?
As i say, i'm rather nervous as i dont want to make a mistake!

herbiesjp

You need to submit the full application to a new lender - so sign that paperwork. However, you will then get a formal mortgage offer letter issued and a re-mortgage questionnaire from the free legal solicitors - it is this offer letter and that questionnaire that you do not do anything with initially.

There should be no pressure.

If Halifax send you out a list of options, it will ask you to choose one and sign - do not send that back, as it will mean you are accpeting the switch onto the new product.

If you do not want to make a mistake, get a fee free whole of market adviser to help you out. They should be able to do all the research for you, and then any paperwork, and guide you through what you need to do.

squibbs25

Thank you so much for your advice so far.
I now have a slightly better understanding of how it all works, and i will seek a whole market adviser as you suggest.
(how do i find one of those )

Squibbs

herbiesjp

Can you try friends or family for a recommendation?

squibbs25

No, My parents don't have a mortgage anymore and Mum In Law swears by the Chelsea building society (she's been with them for years!)