Renewing mortgage - how many times can I switch deals?

homeless9

So my 4 month remortgaging window is about to go live. Say I locked in a deal right away....as far as I am aware I can cancel that deal and select a better deal during this 4 month window...

Can I do this as many times as I like?

My plan is to just stick with my current lender, Santander. I will take up the best 5 year fix with no fee right away, then just cancel it if a better 5 year fix with no fee comes along, then repeat every time a better deal comes.... if it's possible to keep cancelling and selecting a better rate as many times as I like up until 14 days before the deadline.

Is this all ok?

Mark_d

https://www.santander.co.uk/personal/mortgages/existing-customers/change-your-mortgage
Sticking with Santander it does look like you can change deals between T-4months and T-14days.  Can you book a new rate without paying any fee to reserve that rate?
Assuming your booking fee is not paid upfront then you would have to pay a higher mortgage interest rate whilst you have that mortgage.  Do it make sense to be paying the higher rate for at least the next 5 years?

homeless9

Mark_d said:

https://www.santander.co.uk/personal/mortgages/existing-customers/change-your-mortgage
Sticking with Santander it does look like you can change deals between T-4months and T-14days.  Can you book a new rate without paying any fee to reserve that rate?
Assuming your booking fee is not paid upfront then you would have to pay a higher mortgage interest rate whilst you have that mortgage.  Do it make sense to be paying the higher rate for at least the next 5 years?

I don't know of any fees to reserve rates with Santander. I am not sure what you mean about me having to pay a higher rate. If you are talking about what they call 'Product Fees' - for me, with a low LTV then the difference between the deals with product fees and the ones without workout virtually no different from each other... so I'd rather have £1000 liquid in my bank account earning interest that throw it at the lender day 1 when it's not going to benefit me in anyway in doing so.

Anyway... with regards to how often I can change deals during the 4 month window - it is as clear as mud....

the link you sent me states...

Can I cancel a deal I’ve already booked?

Once you’ve accepted your new deal, you can change to a different deal or cancel the one you’ve already booked. You must do this at least 14 days before your new deal starts. You won’t be able to make other changes until your new deal starts.

ok...it states I can change deals....but doesn't state how many times. The last bit that I highlighted in bold I don't really understand, but is it essentially saying I can only change the deal once during the 4 month renewal window, without directly saying it.... ?