Remortgage Help

mandypower123

Hi 

I have decided or at least strongly thinking about remortgaging without a broker this time round and just wonded if someone can answer a few questions. 

- is it a wise move to do? Or would a broker be safer? 
- has anyone heard of Furness Building anxiety and had any experience with these mortgages? 
- when entering in what we have left I notice the rates drop when I put in that we have 60% loan to value. Is there a reason for this? 

Any help on this would be much appreciated.

Other than finding our rate last time which if I looked hard enough I could have found the broker did what I asked them to do and I suggested options I could get round not porting my mortgage which were all right so feel like with abit of research I should be able to it on my own. 

Thank yoy 

mandypower123

Furness Building society rather ** mandypower123 said:

Hi 

I have decided or at least strongly thinking about remortgaging without a broker this time round and just wonded if someone can answer a few questions. 

- is it a wise move to do? Or would a broker be safer? 
- has anyone heard of Furness Building anxiety and had any experience with these mortgages? 
- when entering in what we have left I notice the rates drop when I put in that we have 60% loan to value. Is there a reason for this? 

Any help on this would be much appreciated.

Other than finding our rate last time which if I looked hard enough I could have found the broker did what I asked them to do and I suggested options I could get round not porting my mortgage which were all right so feel like with abit of research I should be able to it on my own. 

Thank yoy 

ACG

I do not understand your last 2 questions or the last paragraph.

You would like to think you are generally going to be safer with a broker than without. Obviously there are good and bad brokers so it is not a given. Do you need one though? That really depends on your and your circumstances. If you are confident you can deal with it and happy to deal with problems as and when they arise then no, you dont. Just bare in mind you will not really have any one on hand should you need help. 

As for Furness, we have used them twice. They were ok, they need a little more than the high street lenders usually and can take a little longer but they were not bad, say maybe a 7/10. Furness generally appear well for variable rate mortgages and sometimes have quite large fees which help them get the lower rates, it might be worth just checking the sums if that is the case as it can end up costing more in the long run. 

mandypower123

Should have proof read my post to be honest, not the best time to do it when trying to sort dinner out for 2 kids!! 

The last question was related to rates changing depending on loan to value percentage? Is there a set point you normally get a better rate when the percentage is lower? 

Thanks for your help 

ACG

60% is typically the lowest (cheapest) banding. I think some lenders have a 50% product banding but in 10 years I have only seen 1 or 2 lenders offer them.