best remortgage deals

david69_2

I'm looking for a new deal not fixed something like a discount off the svr and no fee's

MortgageMamma

have you tried any of the internet searches? or are you going to seek professional advice?

david69_2

I had a look at Ing direct's site 6.24% no fee's etc is this any good?

MortgageMamma

not bad but whether is right for you depends on a lot of factors, loan to value, credit score, income multiples/affordability, property type and also the amount you need to borrow in relation to your property value (known as the loan to value). You need to check the lenders criteria to see if you fit before you apply, as, if you do apply and get turned down, and then approach other lenders to face the same situation, you could damage your credit rating.

david69_2

need to borrow £63000 approx property value £155k good credit rating ,joint income £42k and 8 years to go on a standard life endownment which should of covered original mortgage £45k haha
I switched to a part repayment part endownment 3 years ago when i last remortgaged.

Dan_Collins_2

Woolwich have good life time trackers but service is shot at the mo! Halifax are releasing some but not seen them yet. Abbey and C&G normally have good trackers etc.

herbiesjp

Are you happy being tied in for a period of time ie during the two years of a tracker period? Or do you want deals with no penalties at all?

david69_2

I'm not bothered i just don't want a long tie-in ,I've got 8 years to go but i need to start overpaying from next year so I'm not relying on the endownment .

MortgageMamma

You would be much better on a lifetime tracker, you only have eight years to go so why keep switching products and incurring additional fee's etc. Woolwich are really good at these, abbey are good at the moment and I think Halifax and I think Royal Bank were fairly good when I last sourced one (this morning as it happens)

Joyful

I was looking around yesterday as I have a RBS Flexible choice but found I was paying 7.19%! I found the Woowich with a 6.2% tracker which sounded ideal but the small print advises you need to have a Current Account with them. As I do not want to switch bank accounts is there either any way around this or can anyone advise something similar? I have 16 years left on my mortgage which is approx 40% of it's value.

hughmungas1986

With regards to the setting up of a current account, I think that they set one up for you as part of the mortgage, but you don't need to use it, its just a paper excercise. I'm looking into getting a Woolwich mortgage at the moment myself.