Remortgage costs

Rondoten10

Hi all
Just after a bit of info really.
Currently on a fixed mortgage rate at 3.99% for a couple of years due to defaults that will fall off before the 2 years is off.
After the 2 year rate is fixed it moves to a standard variable rate of 6.99 percent.
Do all lenders offer you a better deal than the SVR normally when the fixed rate ends.
And if they dont can somebody help me with what costs are usually incurred when you remortgage?

Thanks

csgohan4

https://www.moneysavingexpert.com/mortgages/remortgage-guide/

guide on remortgaging which is quite useful

Thrugelmir

Lenders generally offer fixed term rates lower than SVR. The reason SVR is held higher is in case interest rates do rise sharply, i.e. return to what would be considered normal levels again. When does your current fixed term end? 
Mortgage exit fee, valuation fee, legal fees, product fees, broker fee are all potential costs when remortgaging. 

Rondoten10

march 2022 it ends

Thrugelmir

That's some time away. Can you afford to overpay your mortgage at all? Even a small amount of money every month would help chip at the debt owed. 

PixelPound

A 2 year fixed rate that ends March 2022.So you just took this out last month? Are you hoping to get to 85% LTV over next 2 years?