Remortgage process 16 January at 9:51PM in Mortgages & endowments 6 replies 485 views

User4search

My first 2 year term is ending in May.  Is there any online site to findout best mortgage interest rate deals? Or should I go for broker? 

Should I find deals now or wait for sometime more for any interest rates drop? 

Do I need to get my house valuation done? If yes then who can do that?  I did do new driveway and kitchen refitting   new flooring etc. 

dimbo61

Have you looked at new deals for existing  customers on your lenders website.
Good place to start 

amnblog

You should use a Broker.

celly5460

You can get a couple of free valuations from a local agent but I would certainly recommend approaching a broker now. Once you have an idea of the value, you could use the MSE mortgage best buy comparison site to get an idea of what rates are available then discuss further with a broker

FashionHeart

User4search said:

My first 2 year term is ending in May.  Is there any online site to findout best mortgage interest rate deals? Or should I go for broker? 

Should I find deals now or wait for sometime more for any interest rates drop? 

Do I need to get my house valuation done? If yes then who can do that?  I did do new driveway and kitchen refitting   new flooring etc. 

I'd always use a Mortgage Broker as they have access to all the deals that we customers don't.
Usually, most lenders do everything in-house and use their own surveyor, conveyancer, and Solicitors to carry everything out during the whole remortgaging process.

superstylin

Though using a broker is a good place to start I'd always see if I could find better than whatever result they come up with just to be sure. I've been able to gain better deals on 2 occasions now just by using a comparison site or approaching my existing lender when remortgaging. It seems brokers don't always have access to all deals. 

User4search

My bank shows online rate to switch under my mortgage account. I am thinking 5 year fix with product fee. What is ur view? I don't see any other better rate on comparison site online.

 If I switch now

will that cause any early exit charges ?

Will rate become effective immediately?

2 year fix - 4.61 with 999 product fee and 5.03 with no product fee

5 year fix - 4.41 with 999 product fee and 4.55 with no product fee