Mortgage broker gone to ground... just renew?

Sandtree

We were first time buyers just over 2 years ago on a central London flat and 95% LTV with a fixed term deal. That deal is shortly coming to an end and the current provider has given a number of options based on their calculated 89% LTV depending on fee and duration of fixed term.

In late July time the mortgage broker emailed saying to remember the deals coming to an end before too long etc so spoke to him and he said he'd call back around September time. Haven't heard anything since and each time I call his direct dial number it rings out and goes to voicemail. Calling the general number and a third party message taking service answers who says she just emails him the details so has no idea whats going on but she isnt aware of any problems.

Given the high LTV and loan value, the current market etc is there any reason not to just renew? I did briefly speak to another broker who wasnt too interested and just said to renew. Are fees generally payable up front? Given the vastly higher rate for a fee free option I am guessing they are but wasnt abundantly clear from the website.

foxy-stoat

If you can still afford your current deal and the deals from your existing lender are good then fix it again for 2 years. 

Sandtree

I can still afford what I am paying and because of the reduction in LTV the remortgage offer is significantly below what we currently pay if we take the 2 year fixed and with a fee option - the fee is equivalent to two months of repayment reductions. The fee free option removes most of the reduction on a 2 year deal and absolutely all on a longer deal.