Mortgage Deal Ending.....

squibbs25

Hi all, Our mortgage deal is coming to an end at the end of June. We are with the Halifax.
We currently have a fixed rate of 4.99% on £55,000. I have spoken to the Halifax who have estimated that when the mortgage goes to SVR it will be approx £30-£40 pm extra.
We have lots of equity in the house. (bought in Feb 03 for £125,00 with a deposit of £70K) The last house to sell in our road last year went for £167,500. Slightly samller house (we have an extension) but they have a longer garden. So i would imagine it would be quits (IYSWIM) price wise.

So my big question is what am i meant to be doing now?
How do i go about securing a 'good' deal for us.
Am looking to remortgage for about £60k ish.
Hubby earns approx £22k pa, surely we wont have a problem remortgaging will we?

Thanks for taking the time to read.
Squibbs

cooper2110

In terms of whether you will be able to remortgage, then the figures all stack up nicely so I see no issue there.

In terms of needing to seek a new mortgage lender is debatable, best see what other offers HFX can offer aside from the SVR, as there are definitely some available. If not, speak to a mortgage broker if you can't do the research yourself as to exactly who will be best as the offers are changing constantly. I can't keep up with it at the mo and I do it for a living!

JF77

Jeff 2029 Reported. Aaaaarrrrrgggghhhh!!!!!:mad:

_Andy_

jeff2029 wrote: »

Interesting Information...

Nice try at concealing the spam there son.

squibbs25

How do i get a better deal with the Halifax if i was to try myself?

Or reading other tips do i appraoch L&C for their help?

cooper2110

Squibbs - just ring them up and ask what deals are available to you. I believe their number is 08457 273747 for existing customers.

epsilondraconis

Hi Squibbs25, sorry to see that you recently lost your dog Molly.

In terms of the mortgage quote, I would contact Halifax to determine what they can do for you and also look on the various money saving sites to determine what you can get youself. Also, perhaps find a local mortgage broker to see what they can do for you (don't pay anything upfront though).
Good luck in your search...

_Andy_

A broker should be able to let you know the Halifax product transfer range and also do the application for you IF your best bet is to stay with Halifax.

squibbs25

It's such a varied market, i haven't got a clue.
We were FTB's and got the mortgage through the Halifax as we banked with them.
We chose a fixed deal for 5 years, now a friend of my hubby's has suggested going for a tracker, is there that much difference?
I'm scared to ask the Halifax too many questions incase they play on my 'nieveity' (sp).
I'm hoping to learn a bit on here to start the ball rolling!

Thank you for all your replies.

Squibbs.


Thanks for the reference to my dog :A

alexandlee

Squibbs -
Why not let a non fee charging, whole of market broker do the work for you.
They'll be some in your local area so you don't have to go to L&C.
They will be able to access Halifax retention rates for you too, an if the best thing is to stay with Halifax then that's what they should recommend you do

beecher

Have a look here

http://www.halifax.co.uk/mortgages/newdeal.asp

to find out what deals you could get with Halifax - they have quite a good calculator which would tell you how much you'd be paying.