Remortgage offers valid for longer than 3 months - lock in to beat interest rate hikes

Richard_Thomas

Has anyone had any experience of accepting a remortage offer over 3 months prior to the required start date. My mortgage deal expires on 1 Sept 2018 and I am keen to attempt to lock before the interest rate rise in May (still debatable but looking likely).

It would be useful to have a list of companies and how long their respetive offers for purchasing and remortaging are valid for after accepting - has anyone looked into this?

Many thanks - Richard

prettyplease

I'm remortgaging with first direct and have locked mine in now for October with 6 months to go. However my mortgage is already with them, not sure if this makes a difference.

PierremontQuaker03

I am interested in this, my mortgage deal expires 1st Oct 2018 - I thought looking now would be too early - but maybe not??

Evil_Egg

prettyplease wrote: »

I'm remortgaging with first direct and have locked mine in now for October with 6 months to go. However my mortgage is already with them, not sure if this makes a difference.

I'm also remortgaging with First Direct, currently with HSBC. I had my telephone interview on Wednesday and asked for a drawdown date of 5 October. Could have chosen any time in the next six months although whole process generally takes 4-6 weeks apparently.

Richard_Thomas

Good to hear that First Direct may be an option, will investigate to see if it applies to new customers too.
I am with Natwest and can only start looking 3 months in advance. It would be good to see validity periods appear in comparison engines etc.

Richard_Thomas

There is a likely interest rate increase on 10th May - 3 weeks time. I take it that any mortgages applications that surpass 3 weeks would be subject to increased rates?

amnblog

It does not work like that Richard.

Dont confuse monthly base rate decisions with changing fixed rates.

Also, a number Lenders will look in a rate now to be take in October.