begin remortgage process 5 months in advance?
Discussion
Quick question for the mortgage gurus- we have an initial offer term expiring at the end of March next year.
Conscious as we get closer to the Brexit deadline, valuations on properties could take a futher leg down (and impact LTVs), would it be possible to lock in a deal to start end of March right now?
Conscious as we get closer to the Brexit deadline, valuations on properties could take a futher leg down (and impact LTVs), would it be possible to lock in a deal to start end of March right now?
R33FAL said:
Quick question for the mortgage gurus- we have an initial offer term expiring at the end of March next year.
Conscious as we get closer to the Brexit deadline, valuations on properties could take a futher leg down (and impact LTVs), would it be possible to lock in a deal to start end of March right now?
I might be wrong but I think we started the process of switching (to HSBC) 6 months in advance but I may be wrong it could be 3 months not 100%. Conscious as we get closer to the Brexit deadline, valuations on properties could take a futher leg down (and impact LTVs), would it be possible to lock in a deal to start end of March right now?
Advised to look around 3 months before expiry.
My mortgage expires in July next year, think I 5 year fixed will be next for me, unless of course tracker mortgages are a bit cheaper. I will start looking around March at deals etc, start the application in April, hope to have everything signed off by May time if possible ready for July.
Although last time I started 3 months before my expiry, and ended up for 2 months being on SVR as they didn't pull there finger out (santander were pants took 2 months to say yes or no - and randomly they said no - so went to nationwide). We were only after a 52% LTV mortgage!
My mortgage expires in July next year, think I 5 year fixed will be next for me, unless of course tracker mortgages are a bit cheaper. I will start looking around March at deals etc, start the application in April, hope to have everything signed off by May time if possible ready for July.
Although last time I started 3 months before my expiry, and ended up for 2 months being on SVR as they didn't pull there finger out (santander were pants took 2 months to say yes or no - and randomly they said no - so went to nationwide). We were only after a 52% LTV mortgage!
R33FAL said:
Quick question for the mortgage gurus- we have an initial offer term expiring at the end of March next year.
Conscious as we get closer to the Brexit deadline, valuations on properties could take a futher leg down (and impact LTVs), would it be possible to lock in a deal to start end of March right now?
A few lenders have six month offers.......but most are three months........we contact all clients three months before their rate expiry to ensure we can source from the widest pool of lenders available not just from a few with six month offers......so for the most choice, the first week in January would be the time to get this underway, that when we will be contacting our clients with end of March end dates....... Conscious as we get closer to the Brexit deadline, valuations on properties could take a futher leg down (and impact LTVs), would it be possible to lock in a deal to start end of March right now?
I started looking at 5yr rates 6 months before my discount period was about to end and managed to secure 2 offers (1.84% and 1.89% with Lloyds and Natwest). I've been keeping an eye on the market since and if anything better comes up from providers who only offer 3 months in advance I'll apply for those. On previous remortgages I've usually kicked off the process 3 months prior but this time around I wanted to secure a decent rate in case of any BoE rate rises etc.
Gassing Station | Finance | Top of Page | What's New | My Stuff