about remortgage and switching deal with the same vendor

MR_Ktm

Hi,
    my 2 years fixed interest rate for mortgage is coming to an end soon. I have few questions regarding this
1)  do i have to pay mortgage product fee again to stay with the same lender with different deal
    say if i change the lender., does the fresh product fee apply as well , are there any other additional fees , to remortgage house.
2) say if i pay certain amount to make LTV ratio below , 60 percent, before i get the new deal , i can get lower interest rate ?
Please let me know,
Thanks,

K_S

@MR_Ktm
1. Depends on the product. Most lenders will have both with-fee and no-fee products available for product transfers (staying with the same lender on a different new deal)

If you change lenders (remortgage), you will again have to choose between no-fee and with-fee products, comparing them on a total cost basis. Note that product fees can almost always be added to the mortgage if you don't want to pay it upfront.

Remortgage costs will include conveyancing costs. Lenders will often offer free-legals or cashback that you can use towards legal costs.

2. Yes, you should be able to. 

MR_Ktm

Thankyou so much K_S ...really appreciated !

MFWannabe

Another thing to note is if you change lenders that will mean credit checks etc to make sure you can afford the mortgage 

dimbo61

So have a look at the website of your current lender.
Check what deals they have for existing customers !
Once you have an idea of what's available from your current lender then you can shop around or use a broker.
You can also use " whatsthecost " site to work out which is the best deal ? 
With fee or No fees.
You can check monthly payment and outstanding balance at the end of the fix.
Everyone,s  circumstances are different and you may want a long term fix or one that allows  unlimited overpayments on a tracker deal or Offset mortgages.