5 Yr Mortgage Comming to an end

grumbler

amnblog said:

Say a Broker costs you £300 in Broker Fees.

For that:

You know for sure you are doing the best thing

...

You can stop worrying as someone knowledgeable and experienced will be handling this for you

Can you vouch for ALL brokers? And do they have any incentives to offer you you the best deals?

amnblog

grumbler said:

amnblog said:

Say a Broker costs you £300 in Broker Fees.

For that:

You know for sure you are doing the best thing

...

You can stop worrying as someone knowledgeable and experienced will be handling this for you

Can you vouch for ALL brokers? And do they have any incentives to offer you you the best deals?

I do not have to as we are Regulated and therefore the Financial Conduct Authority 'vouch' for us.

MeteredOut

amnblog said:

grumbler said:

amnblog said:

Say a Broker costs you £300 in Broker Fees.

For that:

You know for sure you are doing the best thing

...

You can stop worrying as someone knowledgeable and experienced will be handling this for you

Can you vouch for ALL brokers? And do they have any incentives to offer you you the best deals?

I do not have to as we are Regulated and therefore the Financial Conduct Authority 'vouch' for us.

That won't necessarily give consumers the level of confidence you probably think it should.

grumbler

amnblog said:

grumbler said:

amnblog said:

Say a Broker costs you £300 in Broker Fees.

For that:

You know for sure you are doing the best thing

...

You can stop worrying as someone knowledgeable and experienced will be handling this for you

Can you vouch for ALL brokers? And do they have any incentives to offer you you the best deals?

I do not have to as we are Regulated and therefore the Financial Conduct Authority 'vouch' for us.

Well, if they vouch for everything they regulate, how come there are so many complaints to FOS and judgements in favour of customers?

[Deleted User]

Did not know 1 year remortgage available LOL

I went for 2 years fix no product fees because I have a feeling rates will drop but if you want certainty then maybe 5 years with fees. 

mazibee

Please can someone help me that.

Suppose today I opt for 5 year Fix 3.89% with a product fee of £999 now, and I am assuming rate drops.before June

My new Year 5 year fix will start in end of une 2024,

Can I cancel the deal ( I have opted today) before my new deal starts in end June 2024 and go for any other cheaper deal available at that time.

Sorry for bothering and asking thses ebaic questions.

grumbler

mazibee said:

Please can someone help me that.

Suppose today I opt for 5 year Fix 3.89% with a product fee of £999 now, and I am assuming rate drops.before June

My new Year 5 year fix will start in end of une 2024,

Can I cancel the deal ( I have opted today) before my new deal starts in end June 2024 and go for any other cheaper deal available at that time.

Sorry for bothering and asking thses ebaic questions.

MSE:  Rates on two-year fixed deals drop below 5%

Current deal ending in the next six months? Consider locking in a fixed deal now, as holding out could be risky. Here, you've got some time to wait and see whether interest rates on fixed mortgage deals continue to come down. Lock in a fixed deal now and you'll have insurance against any rate rises and the flexibility to switch to a cheaper deal if one launches before your current rate ends (but remember that rates could go up or down).

[Deleted User]

mazibee said:

Please can someone help me that.

Suppose today I opt for 5 year Fix 3.89% with a product fee of £999 now, and I am assuming rate drops.before June

My new Year 5 year fix will start in end of une 2024,

Can I cancel the deal ( I have opted today) before my new deal starts in end June 2024 and go for any other cheaper deal available at that time.

Sorry for bothering and asking thses ebaic questions.

Yes but have to inform them before the new rate starts and give enough time for them to process.

With mine changed a few times.

morgmonster

mazibee said:

Please can someone help me that.

Suppose today I opt for 5 year Fix 3.89% with a product fee of £999 now, and I am assuming rate drops.before June

My new Year 5 year fix will start in end of une 2024,

Can I cancel the deal ( I have opted today) before my new deal starts in end June 2024 and go for any other cheaper deal available at that time.

Sorry for bothering and asking thses ebaic questions.

Hiya, sorry I didn’t see your “@“ me. This is my understanding, yes, that we can cancel this deal, up to 14 days before the end date of the current mortgage, if we find a better option from Santander or elsewhere. I couldn’t get a firm answer on whether a product fee paid up front would be refundable, so i chose to add it to the mortgage (I will pay it off within 21 days of the mortgage starting to avoid interest on it). 

mazibee

morgmonster said:azibee said:

Please can someone help me that.

Suppose today I opt for 5 year Fix 3.89% with a product fee of £999 now, and I am assuming rate drops.before June

My new Year 5 year fix will start in end of une 2024,

Can I cancel the deal ( I have opted today) before my new deal starts in end June 2024 and go for any other cheaper deal available at that time.

Sorry for bothering and asking thses ebaic questions.

Hiya, sorry I didn’t see your “@“ me. This is my understanding, yes, that we can cancel this deal, up to 14 days before the end date of the current mortgage, if we find a better option from Santander or elsewhere. I couldn’t get a firm answer on whether a product fee paid up front would be refundable, so i chose to add it to the mortgage (I will pay it off within 21 days of the mortgage starting to avoid interest on it). 

Unfortunately when I logged in today to opt for the 5 year Fix, the deals have changed.

Now new 5 Year fix deal with a product fee of £999 is at 4.03% (i.e 0.14% higher than the previous one i saw last week)

Any suggestions what to do now