When do I start looking for remortgage deals?

Slider

Current mortgage arrangements are coming to an end on 6th December.

All with Abbey, 90k interest only + 20k repayment, 1% above base from December, currently discounted by 1.1% (effectively 0.1 below BofE). Further 60k repayment on lifetime tracker at Base + 1%.

House value 285k.

Abbey will not offer me all deals, "new customer's only"

90k interest only was envisaged to be repaid by 2 endowments with Pru.

Endowments have surrender of 12.5k, cost £162 pm, 17 years to run.

Don't want anything with overhangs.

Any comments as too best route forward?

knuckledragger

Slider, start looking about 6-8 weeks before you want to change mortgages. But if a cracking deal comes up before that, go for it and give your new lender the date that you want to complete so as not to incur penalties from Abbey.

Ian_W

Some will let you book products that are available now up to 3 months in advance of when you want them to start I believe, so I'd start looking and when you find what looks suitable for you check with the lender.

Also, no expert on endowments so I may be wrong, but the Pru ones you've got don't look at first blush as if they'll pay off 90k, so I'd consider moving more to repayment if you can manage it. If they do you'll have some spends in 17yrs!