Mortgage urgently needed

Whyzeman

My 2 yr fixed rate is now finishing at the end of May and need urgently to get the best possible remortgage. Does anyone know the best rate available at present. I need £290K on an interest only basis. Obviously I dont mind paying for a service but this site says an independent advisor should be free. HELP.....

lightspeed

Hi

I think more info will be needed for anyone to help e.g.

income
house value
credit issues
loans etc....

Whyzeman

I dont think it is wise to list income over the forum but the house value would be between £430,000 - £450,000 and the mortgage would be £290,000, under 70%. All personal details I can give one to one to the lender.

_Andy_

Hard to say what's 'best' for you without knowing more about your cirumstances. Do you have ny investments or anything running alongside the mortgage - i.e. how will the capital be paid off?

Whyzeman

My mortgage will be paid off by my pension.

dmg24

If you are not willing to give details (no one here knows who you are, or cares what you earn), then you need to find an independent advisor to assist you.

dunstonh

Obviously I dont mind paying for a service but this site says an independent advisor should be free.

Martin is actually wrong on that fact although you have also misinterpreted it as well. An IFA (as an investment adviser) is nearly always cheaper on fee basis than commission. However, a mortgage adviser may or may not be. At the moment, a fee based mortgage adviser may well be cheaper than a commission adviser but it comes down to the individual you see.

_Andy_

Whyzeman wrote: »

My mortgage will be paid off by my pension.

As you're obviously not willing to give out details I'd suggest you start off by having a look at www.moneyfacts.co.uk or www.moneysupermarket.com

You're welcome.

Gloster_Advise

Whyzeman,

Who is your currrent provider? There is really not a lot of difference in % at the moment across the board.

The "best rate" is an open ended question. Some lenders offer 2 year fix where as some offer 20 year fixed rate. Some have no arrangemnt fees some are 2% if not more of what you borrow.

The LTV is in your favour and should you have no adverse credit or mortgage arrears then you "may" get a fast track application.

Try and avoid an IFA. Use mortgage brokers.

Regards
Si

Conrad

You asked for the best possible remortgage.

Ok there is a small buidling societly with fixed 3 year @ 5.29%. no fees.

This is of course useless info as we dont know if you fit thier criteria as you have'nt told us anything.

Bit like asking "whats the best possible holiday".............

Gloster_Advise

Conrad,

Agreed.

I does wind me up slightly when that question is put to me. I sometimes say well Marsden do a 2 yr fix @ 2.59%............(slight overhang back then)..