Remortgage advice - have broker visit or not bother?

RealBobbyDazzler

Hi,

We’re currently about to remortgage as our fixed term ends in a couple of months. We’re currently with Nationwide on 2.09% fixed for 2 years, on a 40 year mortgage (depressing). I don’t feel it’s the best mortgage deal we could have got, it was set up by a broker but we needed him as we wouldn’t have got the house otherwise as he was able to get us multiple Mortgage in Principals as our offer had to change multiple times daily whilst bidding against another buyer.

So I’m now looking for a good deal to remortgage, we’re currently with Nationwide, the offer I’ve found from them is 1.64% fixed for 2 years on a loan of £230k, they’re valuing house at £292k (which I think is £10k over if I had to submit a valuation elsewhere).. £1000 setup fee but able to add this onto the loan at a cost of £32 as we’re currently doing work on the house so don’t want to pay a setup fee right now, also taking the term down to 34 years.

I see Barclays is offering 1.61%, but obviously the hassle of submitting all of our statements etc & not able to offset the £999 setup cost either.

Being the first time remortgaging is 1.64% relatively good at the moment or would getting a broker in offer better rates, just wanted to know roughly what anyone else had seen or taken recently to know whether to go for it!

Thankyou all! :money:

[Deleted User]

Its a good deal, Nationwide always are for existing customers in fairness. There are similar deals out there but like you say, would require statements and payslips etc. I do think though that if you are reducing the term down with a lender on renewal you will have to do it as advised so will need payslips and bank statements etc anyway. Might not save much by doing it with Nationwide.

You can add fees to the loan with any lender. So Barclays would allow that as well.


If its a case of dragging yourself to an office and taking time out of work then I personally would probably just go for easy route. Maybe doing people like me out of a job but convenience has got to be a main priority when dealing with clients.

If I was your broker I would come round to the house and tell you in 30 minutes if its worth looking at other lenders or not. Not going to waste your time and mine by moving for no reason
Might also be a good excuse to sit down and review things like life insurance/critical illness/income protection if changing terms and plans. No one tends to make enough time to deal with the important stuff like that so 2 birds 1 stone maybe