Preparing for a remortgage

Mr_Curious

Hi Guys,


I am looking for a little advice from some wiser heads.



I am due for a remortgage in February. I am just looking for some advice to put me in the best possible position to move on to a new fix, not necessarily with the same lender.


I'm hoping to have a LTV of 75% with property being worth in the region of £180000 (I have put a new heating system in since I moved in two years ago so hopefully that is reflected in the valuation.)


I currently have an interest free loan that is due to run for another 12 months. I plan on finishing this early as it then will not be an expense for affordability purposes.


I know I am quite far out, but from your considerable experience, what other 'bits and pieces' should I be doing in order to put myself in the best position to find the best deal at the time?


Any thought or advice welcome.


Mr_C

getmore4less

Check your retention deals now against the competition.

If you picked the right lender last time there is a good chance they will be competitive and you just take their deal at the time.

Given a lot of lenders now let you switch early where you can switch to a lower rate early it favours staying with the same lender.

is the loan really that big it could be a problem.

csgohan4

home improvements do not always equate an increase in value of the house by the same amount.

Some lenders just do a desktop valuation or drive by, negating your internal improvements.

Mr_Curious

Thanks for your replies.


The loan will be paid off so will not be an issue. come remortgage time.


The home improvement was upgrading the heating system so making things much more efficient. I do not expect the cost of the works to be relate to the value increase of the property but obviously it would be worth mentioning. The expected value of the property I have derived from house sales in the local area.