Considering Remortgaging Help!

strawberryfield2233

Hi I am going round in circles of indecision help!
Current Mortgage Brittania
5 year fixed 2.79%
expiring 30/4/18
1% ERC
Outstanding £73700
Est valuation £204000

Called L&C they said usually advise wait but would look taking into account of fees, I said was worried about my income as housewife with tiny amount of child benefit & tiny s/emp income (which I will declare!) but cant prove yet and don't want to cause complications, they said could put zero for me and assess on husbands income 31.5k.
They never came back to me I think this may be as our mortgage isn't big and possibly they would not make much from us or nothing available?

Anyway have secured an offer with current lender for a Product Switch Execution Only
5 year Fix 2.09%
offer valid for 4 Months
1% ERC £737
No other fees

Not sure if best to go ahead now with above, or is there a way to wait a bit then get a new offer perhaps comparing with another mortgage with current lender so that a new offer could take us past fixed period and avoid ERC?

Would we be best going back to a broker or is it as I suspect not viable for them as not enough commision for them and not viable for me to pay fees. Are there any better offers out there, no fees or taking account of fees it would be worth it? 5yr fix required.

I have seen a scottish widows flexible offset 5yr fix 1.69% £749 fees but think only via broker and not sure how long offer would be valid ie would need 6 months to avoid ERC?

I have seen Tesco 5 yr fix 1.83% No fees not sure how good they are and if offer would be 6 months?

If we didnt take up current offer and looked again and applied direct I am still unsure if I could declare zero income for me or whether that could be only done with a broker?

Sorry for long post !
Any opinions on any of the above would be very welcome! Thank you

amnblog

The rate you have with your current lender is secured and you can change your mind before the product starts so that is good news.

You have see the service from L & C, but don’t assume all brokers will be as sloppy.

You need to accept a Scottish Widows Bank offer within 21 days and complete within 6 months.

You can declare no income for yourself at any time through any channel.

strawberryfield2233

Thank you amnblog that information is very helpful particularly about Scottish Widows Bank, I am now seriously considering this one, do you think its ok re declaring my income as zero or is it not acceptable?

amnblog

No problem at all. We use Scottish Widows every week.

strawberryfield2233

Thank you so much !!!
Now to find a good broker
At least I have the current lender offer in reserve just in case.
You have been very helpful x

amnblog

No problem.

By the way, be quick, I expect Scottish Widows to raise their rates shortly as the other companies in their group have already done so.

strawberryfield2233

Thank you !! X

YHM

You just need to find a broker that will do it for you fee free.

Some good guidance re Scot Wids, but you may have other options available to you.

LandCmortgages

We're really sorry to read this - especially that you didn't get a call back. We can assure you that we would have loved to help you regardless of a mortgage loan size (big or small). With this in mind, we'd like to find out who it was you dealt with...

Would it be possible for you to email us at socialmedia@landc.co.uk along with your postcode and full name, then we can find you on our system and find out what happened and why you didn't receive your call.