Shared Ownership- end of fixed deal

Silence101

Hello,
We’ve still got 18 months left on our fixed deal, but as we’ve never done this before, I figured the best would be to ask questions now so we know what to expect.
We’ve got a mortgage for half the property, at 1.8%. The SVR is approaching 4% so we would like to get another fixed deal at a lower rate (if possible nearer the time.)
We aren’t planning on staircasing yet, as I understand owning a lower percentage means it should be easier to sell in the future, and we’re not sure how long we’re planning on living here.

So my quesions are:
how do we get the best deal after the fixed deal comes to an end?
Do we need to ask our current lenders? And how? And when? Can we apply before our fixed term ends so we get moved straight into a new deal as the fixed deal finishes, or do we need to go unto the SVR while we sort out a new deal?
Do we need to pay fees if we’re staying with the same lender, and what if we changed lenders?

Thanks in advance for any help!

kingstreet

By comparing remortgage and customer retention options.

Yes. For customer retention options, by phone or via broker. A couple of months before current product expires.

You'll need to look at remortgage options online, or via broker.

Possibly. Products with fees suit some mortgages, not others so you'll need to compare.

Silence101

Thanks! We!!!8217;ll probably use a broker again, it!!!8217;s good to know what timeline we should be looking at.