Which banks offer a rate 6 months in advance?

Hallion

My fixed rate mortgage is up in 6 months' time. I would like to try and arrange a rate as soon as possible; does anyone know which banks offer a rate up to 6 months before the actual remortgage date? Thanks

kingstreet

Most mainstream lender remortgage offers have a six month validity period. You need to watch out for those who don't.

K_S

@hallion The vast majority of mainstream lenders' remortgage (changing to a new lender) offers are valid for 6 months from application, 6 months from offer or a fixed 'complete-by' date which usually gives you between 5-7 months of validity depending on timing.

With much smaller number of lenders (eg: Nationwide, NatWest, etc.) you may be able to stretch that 6 months to add on 1/2/3/6 months on top of that either by reserving a product at DIP stage or through an extension.

Hallion said:

My fixed rate mortgage is up in 6 months' time. I would like to try and arrange a rate as soon as possible; does anyone know which banks offer a rate up to 6 months before the actual remortgage date? Thanks

CSL0183

Halifax is 3 months as just been through a remortgage with them. Not sure if all their subsidiaries within that group will be the same? Bank of Scotland, Lloyds. 

K_S

@csl0183 Are you talking about a remortgage (changing lenders) or a product-transfer/product-switch/rate-switch (selecting a new product with the same lender)?

Halifax remortgages are valid for 5-7 months approx depending on the timing. For example, if you put in a remortgage application today, the offer will be valid for completion until 31/03/2023.

Halifax's PT window is indeed 3 months before the end of the current fix.

CSL0183 said:

Halifax is 3 months as just been through a remortgage with them. Not sure if all their subsidiaries within that group will be the same? Bank of Scotland, Lloyds. 

CSL0183

K_S said:

@csl0183 Are you talking about a remortgage (changing lenders) or a product-transfer/product-switch/rate-switch (selecting a new product with the same lender)?

Halifax remortgages are valid for 5-7 months approx depending on the timing. For example, if you put in a remortgage application today, the offer will be valid for completion until 31/03/2023.

Halifax's PT window is indeed 3 months before the end of the current fix.

CSL0183 said:

Halifax is 3 months as just been through a remortgage with them. Not sure if all their subsidiaries within that group will be the same? Bank of Scotland, Lloyds. 

Yes apologies, my mistake. I had to be within that 3 month window before I could look at the product switches without incurring the ERC. (Staying with Halifax, not remortgaging with a new lender)

I was getting myself confused with people being able to look at remortgaging with the same lender a whole 6 months before deal expiry. 

mose_2

I’m with Santander and a PT is 4 months. This set in stone or is it worth ringing? Don’t think I can wait another 2 months to see what they have. 

deejaybee

mose_2 said:

I’m with Santander and a PT is 4 months. This set in stone or is it worth ringing? Don’t think I can wait another 2 months to see what they have. 

Cant comment on Santander, i'm with Barclays - i called them up ( long wait on hold ) they clarified my ERC, and told me that first day i can apply for PT is 3rd April 23 ( 150 days before fixed rate ends ) I asked about breaking out of fix, and they told me i have to set up meeting with one of their advisors to discuss this /rates / ERC etc etc.  Have telephone appointment set up for next week.

However after doing my own calculations, i am leaning towards riding my cheap fix until it ends in 11 months time ( i will obviously see whats available rates to book when April comes round, so that they would be ready to go after fix.  Would avoid the ERC and 11 more cheap months. So i may cancel the telephone appointment to save wasting my time and their time.

My mortgage balance is relatively low however and i can afford the increased payments, your circumstances may be different.

mose_2

My fix ends in 6 months next week but can’t hang around another 2 months waiting although it would be easier to stay as I’m self employed. Might give them a quick call see what they say. 

K_S

@mose_2 I wouldn't expect Santander (or any other mainstream lender) to budge on the window that they allow for PTs though I thought they sent existing customers a rate 5 months in advance of the fix ending.

I know it might be a pain when you're self-employed but given that you're only 6 months away, it might be worth securing a rate asap with another lender and then compare it to what Santander offers in a few weeks time.

mose_2 said:

My fix ends in 6 months next week but can’t hang around another 2 months waiting although it would be easier to stay as I’m self employed. Might give them a quick call see what they say. 

mose_2

Thanks, yes I’m currently applying for one with Lloyds and will see what Santander offer later, 4 months will be December and god only knows what the rates will be by then.