Steps to remortgage

davnav

Hi all


Whats steps do i need to do to remortgage.


My position im at as follows


5 year fixed ends august 2019


interest rate currently on 3.59%


at the end of this duration, £27,500 still to pay off.


with so much comparison sites and deals around,what steps should i take to get the best possible deal on another 5 year fixed.


please advise in simple form on how i start the process to remortgaging , my bank can renew at another 5 year deal at 3.44 but should i look elsewhere at better deals or is it more hassle than its worth, No fees if that's possible.



Do you just apply online or is it a case of phoning banks for appointment visits to talk through and complete.




Big Thanks

Thrugelmir

davnav wrote: »

at the end of this duration, £27,500 still to pay off.

Costs involved in switching lender may outweigh any benefits in terms of interest saved on a new product.

Worth considering overpaying and speeding up repayment of the debt owed.

amnblog

2.09% without a product fee is nearer to the mark for 5 year fixed on what I assume is a modest loan to value.

Check the main Bank and Building Society rates and you should find a number pricing well under 3.44%.

dimbo61

Have you looked on your lenders website for new deals for existing customers ?
Might be just as easy to switch to a new deal with your existing lender.
Maybe consider reducing the term to 3/5 years so it's paid off by the end of the fix.