Mortgage advisor pytting off securing mortgage?

inthe80s

Hi all
Ive expressed a concern that i would like to secure a mortgage fast, but the mortgage advisor advice is "to not concern myself wth all the hype and that we can look into rates closer to the time". The mortgage is up in july, can i secure a rate now?. Weve bought a new house which completes in june, so had to take a mortgage out for the extra 40 grand needed for one month (which im annoyed about but its due to exit penalties).
Any advice is appreciated.
Thanks

_Andy_

Yes you can secure a rate now and I'd suggest getting it done ASAP - rates, especially fixed, are being withdrawn and re-priced daily.

inthe80s

_Andy_ wrote: »

Yes you can secure a rate now and I'd suggest getting it done ASAP - rates, especially fixed, are being withdrawn and re-priced daily.

Thanks for the reply - this is also my thinking on the matter, im wondering why my mortgage advisor isnt pushing to secure one. Ive been saying i want to secure one for over a month now. My OH seems to want to ignore the situation and gets annoyed at me for mentioning it. Im worried though if i ignore it ill be paying for it later.

Daz1

If you look at Martins remortgaging guide, he suggests arranging new mortgage deals approx 3 months before the old one is up. Sounds like you are doing this all in good time. Don't allow the broker/advisor to procrastinate too long ......

taxi73

I suggest another mortgage advisor as things are changing really quickly.

minimike2

Ive been arranging new mortgages for clients whos deal end in July.

Managed to secure a self-cert at 75% LTV for 5.59% 2yr Fix - That was a month ago - you try and find something like that now!

Mortgage pricing is only going one way at the moment and snoozers will be losers!

Dan_Collins_2

Hang on a min can we look at this closer.

Can you confirm, your buying a place in June, but your fixed rate ends in july. You have taken a further advance for 40k (or secured loan) to help with the purchase.

You will or may find that you may not be able to remortgage for 2 or 3 months after you have brought the new house. A lot of lenders have brought this rule in to prevent frued. More so with new builds!

Who is your current lender?

inthe80s

Thank you for the replies

it is a new build. we are due to complete 1st of june, though this may get delayed. The current fixed rate mortgage will end at the start of july.Our mortgage advisor hasnt mentioned anything about difficultly remortgaging, in july.

Dan_Collins_2

I would mention it to him. I had an isse with one, although it was self cert. Some lenders have an issue with remortgages right after a new purchase, a lot of frued has been done this way, although I dont know how?!

Its just not as easy as what it may seem. WHo are you with?

inthe80s

St James place bank

Dan_Collins_2

OK, they are part of the HBOS group I think. Posh looking website but rates are a little high.

I would ask you broker to look in to this for you. Ask him how soon after you complete you can remortgage?