Fix Ends 30/09/2022 - Remortgage

hufc2002

Hi all

My two year fix with HSBC comes to an end at the end of September 2022 so I am keen to get the ball rolling to have a new mortgage in place.  I know I can't secure a new deal with HSBC until 90 days before.

With rates only going one way, should I fix for longer than say 2 years?  No plans at all to move.

Currently owe:  £161,688
At end of fix will owe £158,622
Property value:  £230,000
Current Rate:  1.84%
Mortgage Payment:  £759
Remaining Term:  21 years

I am also a Club Lloyds customer and the 10 year fix at 1.93% has caught my eye especially with the £750 cashback but I'm pretty sure I read in another post that this ends in August and I want to avoid a ERC fee.

Any advice would be welcomed.

Thanks

RelievedSheff

You can secure a mortgage offer and rate 6 months before your existing rate expires.

We secured a rate in January last year and the remortgage didn't complete until the end of May.

330d

hufc2002 said:

Hi all

My two year fix with HSBC comes to an end at the end of September 2022 so I am keen to get the ball rolling to have a new mortgage in place.  I know I can't secure a new deal with HSBC until 90 days before.

With rates only going one way, should I fix for longer than say 2 years?  No plans at all to move.

Currently owe:  £161,688
At end of fix will owe £158,622
Property value:  £230,000
Current Rate:  1.84%
Mortgage Payment:  £759
Remaining Term:  21 years

I am also a Club Lloyds customer and the 10 year fix at 1.93% has caught my eye especially with the £750 cashback but I'm pretty sure I read in another post that this ends in August and I want to avoid a ERC fee.

Any advice would be welcomed.

Thanks

I'm in a very similar situation to you with my fixed deal finishing in September 2022.

From what I've seen it is early for me to change without paying an early repayment charge.

The Lloyds deal I would like but you have to complete by August.

I'm with NatWest and they have a 5 year fixed an 1.94% but you have to be within 3 months with NatWest to change.

I think we both have to wait unless you find something.

hufc2002

I have set the ball rolling and through L&C, yesterday applied for a 2 Year Fix with Virgin at 2.10% (product has since been removed).

I want to get something in place now but if something better comes up in between now and the end of my current fix I can re-visit.