When can I start to arrange a remortgage

pamelab21

Hi all

Sorry if this is a really thick question. :rolleyes:
Our Halifax 4.49% fixed rate mortgage will come to an end in April 2008 and I have been looking about and have seen a couple of fixed 5 year mortgages that may suit us.
However is it too early to be looking or can we start to make arrangements that will kick in when the Halifax rate ends?
Do mortgage offer have a 6 month period that they last for or is it different when it is remortgaging?

Thanks for reading
Pamela

dibwray

Hi,

I am on the same Halifax fixed rate but mine runs out start of Feb, I rang them to make an appointment and they said it was too early and I should contact them again mid Nov...

MortgagesInc

A lot of offers are only valid for 3 months. Lenders used to be happy to extend these for a further three, but we've found a lot won't even extend by a day at the moment.

Halifax will only look at their retention deals three months prior to expiry

herbiesjp

pamelab21 wrote: »

Hi all

Sorry if this is a really thick question. :rolleyes:
Our Halifax 4.49% fixed rate mortgage will come to an end in April 2008 and I have been looking about and have seen a couple of fixed 5 year mortgages that may suit us.
However is it too early to be looking or can we start to make arrangements that will kick in when the Halifax rate ends?
Do mortgage offer have a 6 month period that they last for or is it different when it is remortgaging?

Thanks for reading
Pamela

Yes you can get 6 month offer letters valid on re-mortgages, however you need to makes sure the lenders offering these offer letters are the ones that are offering you the best deal for your circumstances, and also that the actual rate on the offer letter does not have an expiry date that comes into effect before the end of the offer letter itself

Freddie_Snowbits

It is never too early to get out there and check other providers. We just changed from the Derbyshire to Coventry and it took about 13 weeks, but be careful on those exit charges and do not leave you porevious mortgage too soon, before the end date.

I am sure you will be able to find a few brokers around the place somewhere.

Derbyshire discount rate 5.79% to 5 year fixed at 5.49% Oh, and if the rate drops, one default and it assumes the current rate!