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Can I get a remortgage offer in advance?
Jmoo
Posts: 363 Forumite
My mortgage fixed term rate runs out in February - eight months time. Is it possible to get a remortgage offer now and review in six months time whether to take it?
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Comments
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I have the same situation! Is there any way I can lock in a rate now?0
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If you choose a new lender with a long enough offer period, or who can extend an offer, then yes.I am a mortgage broker. 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.2
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So I need to change away from Barclays (my current provider?) in order to find a lender with a long enough offer period?kingstreet said:If you choose a new lender with a long enough offer period, or who can extend an offer, then yes.0 -
A product transfer (retention product from existing lender) and a remortgage (new mortgage from new lender to replace current one) vary in how they work.
I commented on the remortgage option as that was the subject of the thread. Product transfer options are lender-specific so you would need to refer to Barclays for such information.I am a mortgage broker. 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.0 -
Yes, though I think it's only a few big banks that have a policy that gives you an offer validity of more than 6 months. Nationwide comes to mind as a bank often cited on this forum for this through rate reservation or something like that.0
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