Remortgage advice

[Rick101]

Hi,

Never remortgaged before so any tips would be helpful.
Me 33, Mrs 35. Both full time.

Currently got 33yrs remaining on a Newcastle Building Society mortgage (153k).
Current LTV is about 73%. Not really in a position to get it under 70%

Current monthly is about £720. We overpay and deposit £1000 each month.
Mortgage was set at 33yrs as we had to make the figures right for acceptance but I reality I'd like to think 15-20yrs.

Have had a renewal from existing provider 2.19% for 2 years.
First Direct who i'm fairly confident would accept us have a 1.99+base lifetime tracker. Both products allow overpayments.
FD also offer a fixed at 2.49 for 2 years. ( I do think we will see rate rises over that time)

I haven't had a chat with my broker as yet but I think unlikely he'll better the two above.

Financially I think we're ok. Salaries in excess of the 3x multiplier. Plenty of disposable and 3 exixting credit lines (2 x cards and 1 x lease car)

One other thing to mention is that Mrs has a BTL. This is on a proper BTL product and she has 1 year of accounts.

Anything I should be considering or just go for the cheapest one?

Better to try the FD from now and then if declined can fall back on the Newcastle offering in June?


Thanks.

Edited by Rick101 on Wednesday 9th April 08:15

[Sarnie]

I'm a Broker too.

At your LTV I've written a 2.09% two year fixed & a 1.89% two year discounted rate in recent weeks.

There are better products out there than you've been offered.

[Rick101]

Ahh ok!

I better speak to my broker then. If I don't get a good deal I might come knocking!

Cheers.