Remortgaging- Scottish Widows

mitzi01

Hi

I'm currently in the process of remortgaging. The offer I am looking at is with Scottish Widows 5.59% 5year fixed (75% LTV).

Does anyone have any experiance of applying for a remortgage with Scottish Widows? If so, how long did it take?

Any views as to whether this is a good deal? I wanted a mortgage which was portable and overpayments were allowed so I know the rate is slightly higher to allow for this.

Any views would be very much appreciated.

_Andy_

Pretty slow at the moment in my experience.

Have you got the application started already?

Leon_W

Agree with Andy. They're dire.

Is that the deal with the £1999 arrangement fee ?

Dependent on size of loan and circumstances Accord have a 5.39% with free legals and val but with a 1.5% fee. Might work out cheaper ?

They're also quick.

mitzi01

Thanks for your responses. To answer your queries.

No its the £499 fee, I would be eligible for the Professional persons mortgage.

No application not started, Have been very lapse as my existing mortgage runs out 1 April, I'm not too worried if I have to pay at higher costs for a month but don't want it to drag on as monthly repayment increases by £170 and recokon by remortgage the increase will be £60ish.

Loan works out approx. 70% LTV and less than x3 salary multiplier so should n't be an issue obtaining!?!?

_Andy_

What is the loan size and property value, we can have a quick look and see if Accord would work out cheaper?

Leon_W

No, I wouldn't have thought you'd have any issues.

Perhaps you might get lucky and it'll all go smoothly for you but be prepared for hassle if it arises. Best of luck.

mitzi01

Thanks again for comments.

Conservative house value £150k, mortgage £97k. Salary £50k

cheers

_Andy_

Accord rates have gone up recently but an alternative would be Stroud and Swindon 5.59% £549 fee no val free legals