95% mortgage deal running out. What are my options

charliebucket_2

Hi,
In October this year, my 2 yr fixed deal with MAS no5 will run out. I took out a 95% mortgage at the time of £215000 as i had recently divorced and had to start again on the property ladder.
The value of my property has gone up (and back down) and is today worth around £235000. I have never defalted and have an excellent credit rating. However, as i am self employed, it was easier at the time to take a self cert mortgage. I have no problem meating the payments and could wear an increase, but i was hoping to remortgage in october with another lender, new fixed deal etc.
What will my options be then? What are they now?
I am restricted to doing anything untill then due to a huge early redemption penalty clause.
I know that October is 6 months away yet but i feel i may need to start prepairing soon.
Many thanks.

homer_j_3

You can start looking now and look to try and secure a deal now but July is probably going to be the point where most options are open to you.

Being with the lender you are, you were non conforming at the time, I guess, so you may now qualify for better deals. Get a good broker to look at your circumstances and help you find a good deal

charliebucket_2

Thanks homer_j

Just want to ask, what do you mean by 'non conforming'? Is this cos it is a self cert deal?
Went through broker at the time so just accepted his recomendation.
Mortgage did start off with GMAC but got transfered to MAS after about 4 months.
What would i have to do to qualify for better deals in 6 months time?? as my personal situation has not changed.