Remortgage or renew

Jimmycr

Our current mortgage has about 65k left on a 275k house. Current rate is 2.04% and is due to end in October. Starting to think about getting ready for when it ends. I wonder whether you think it would be best to remortgage to a new lender or to renew our current mortgage (haven’t looked into it as yet with rates etc. so please don’t shoot me for asking the question first on here).

lfc321

Depends on rates and additional costs of moving lender.

MWT

Jimmycr said: (haven’t looked into it as yet with rates etc. so please don’t shoot me for asking the question first on here).

That bit really does come first, best to see what your options are for a new product from your existing lender and then compare to what you can get elsewhere.

Once you have done that it is easy to ask on here for help comparing different options if needed.

Generally a new product from your current lender can be locked in with a couple of clicks of the mouse, a remortgage elsewhere is a much longer process, just like when you first took out a mortgage...