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Remortgage options
t3rm3y
Posts: 145 Forumite
Hi. Our mortgage fixed term comes to an end soon, and the letter shows we would go on their standard rate which the percent is obviously a lot higher then the fixed term. Where's best to look I to options ? Is it like car insurance where I can just ring our current provider and say I have a better deal so they match it? Are there good deals still with all the costs going up? I think we owe around 90k and estimate the house to worth about 200k..
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As far as I’m aware a lot of banks won’t price match or negotiate - it’s ‘what you see online/get offered on the phone is what you get’ but others here may correct me.I love a bargain and saving money! I don't have any debts and mortgage repaid in 20200
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You have a good LTV so worth having a look around on mortgage price comparison websitesI love a bargain and saving money! I don't have any debts and mortgage repaid in 20200
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Check the mortgage comparison https://www.moneysavingexpert.com/mortgages/best-buys/
Easier to stay with the same lender but check if their rates are competitive.
Do try to fix as soon as you can as next rate increase due 15th September.0 -
@t3rm3yt3rm3y said:Hi. Our mortgage fixed term comes to an end soon, and the letter shows we would go on their standard rate which the percent is obviously a lot higher then the fixed term. Where's best to look I to options ? Is it like car insurance where I can just ring our current provider and say I have a better deal so they match it? Are there good deals still with all the costs going up? I think we owe around 90k and estimate the house to worth about 200k..
- there's no negotiation as such on the published rates
- now that you have your current lender's product-switch rates, the way to go about it would be to compare it with the options in the wider marker. You can use the MSE mortgage comparison here to get a rough idea. Just make sure you are comparing like-for-like (ie fixed-rates with fixed-rates, not with variable ones) and keep in mind that you may not necessarily be eligible for the rates that you see
https://www.moneysavingexpert.com/mortgages/best-buys/
- alternatively, speak to a whole of market broker. They can look at both the rates from your current lender and the rates from the whole market, compare and give you a recommendation on the most cost-effective option available at this point in time. The MSE guide here will help you find one
https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#step3
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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