Looking for a remortgage

onedah

Hi, we have had our house on the market for the past 7 months with no real interest. Our 2 discounted nmortgage finsihed in Dec 04 and we moved to a rate of 5.5%.

Now, as the house is not selling we are looking to again change mortages to lower the cost. We are looking at some thing like a tracker with no tie in.

I have found one with Britannia at 4.50% 2 Year Tracker (after 2yrs +1.50%). It has NO tie in but an arrangement fee of £349.

The move would probably save me £500 over 1 year....

Questions:

1. Has anyone seen a better deal?
2. What sites are good for comparison?

payless

I would not normally start a remortgage if you are still actively trying to sell ( at a price that might attract interest), on basis of problems it might cause ( poss legal paerwork in 2 places at once ) / fees ( that might not be recovered in event of a sale shortly after swap)

has existing lender got anything cheaper than current rate?

onedah

My current lender is A&L and they may have but there are also fees involved so it I thought it would be better to look around.

Do you normally have to pay legal fees if changing??

payless

some deals come with legal fees paid BUT watch out for penalty if leave within a certain time, even if product itself does not have a redemption fee

remember to price in exit fees also

onedah

The Britannia deal does not have legal fees paid, do you have any idea what they may be....

Thanks

payless

striaghtforward legals - I suppose in the £300-£400 region ( sols fees inc disbursements )

(although are you sure they don't do some assistance towards legals ?? - look again, how much disbursements on their own will be dpends on how they transact the swap)