Re-mortgage Questions

[TheFungle]

Our 2yr fixed is coming to an and in April so now the hunt for a new deal begins.

Current deal is a fairly average one with the Halifax and their current deals are somewhat uninspiring - 3.48 on a 5yr fixed.

A quick search finds M&S doing a 5yr fixed at 2.29 with no fees.

That equates to about £800pm difference!

For reference out LTV is 84% and we are borrowing just over double the household income so well in borrowing guidelines.

Q1 - How much benefit will there be to contacting every broker under the sun?

Q2 - Is there any benefit to paying a fee when it all gets packaged into the monthly cost?

thanks

[yajeed]

Standard answer around here is ‘speak to Sarnie’. He’s got to pay for that Mclaren somehow :-) joking aside, people sing his praises for being super responsive and very competitive.

[Sarnie]

TheFungle said:

Our 2yr fixed is coming to an and in April so now the hunt for a new deal begins.

Current deal is a fairly average one with the Halifax and their current deals are somewhat uninspiring - 3.48 on a 5yr fixed.

A quick search finds M&S doing a 5yr fixed at 2.29 with no fees.

That equates to about £800pm difference!

For reference out LTV is 84% and we are borrowing just over double the household income so well in borrowing guidelines.

Q1 - How much benefit will there be to contacting every broker under the sun?

Q2 - Is there any benefit to paying a fee when it all gets packaged into the monthly cost?

thanks

I'm a broker............I can help with this..........more than happy to chat if you want to drop me a mail or give me a call...............

[Sarnie]

yajeed said:

Standard answer around here is ‘speak to Sarnie’. He’s got to pay for that Mclaren somehow :-) joking aside, people sing his praises for being super responsive and very competitive.

[TheK1981]

Sorry to ask a (probably) stupid question....

My fixed rate with Santander finishes 1st May, looking at the deals online the 5 year fixed with £999 fee seems reasonable to me - plus i have a 123 account and everything seems to work me, do i just need to phone them up, say thats the one I want and they update the deal and send out something for me to sign, or do i have to do the whole solicitors thing again?

Like i said, probably a stupid question....

Edit - Should give a few details:

House Value 250k,
Mortgage will be 130k - want 5k extra for new bathroom and things,
Mortgage rate is 1.89 - 5 year fixed with 999 fee

Am i missing any amazing deals?

Edited by TheK1981 on Monday 7th January 16:51

[Whatsmyname]

TheFungle said:

That equates to about £800pm difference!

If the mortgage was over 25 yrs that is a £1.2M mortgage.

[Sarnie]

TheK1981 said:

Sorry to ask a (probably) stupid question....

My fixed rate with Santander finishes 1st May, looking at the deals online the 5 year fixed with £999 fee seems reasonable to me - plus i have a 123 account and everything seems to work me, do i just need to phone them up, say thats the one I want and they update the deal and send out something for me to sign, or do i have to do the whole solicitors thing again?

Like i said, probably a stupid question....

Edit - Should give a few details:

House Value 250k,
Mortgage will be 130k - want 5k extra for new bathroom and things,
Mortgage rate is 1.89 - 5 year fixed with 999 fee

Am i missing any amazing deals?

Edited by TheK1981 on Monday 7th January 16:51

You won't be able to just call up and swap the rate over if you want an extra £5k.....that will trigger a full underwrite........

[Register1]

Hi Sanie

Myself and my wife will be looking to sell this £140k paid-up house in summer this year.
Then look to put £30k cash to the proceeds of the sale.
Then buy another house for around £300k
Its not all the way strait forward, so have sent you an email with further details,

Cheers pal.

R1

[TheFungle]

Sarnie said:

yajeed said:

Standard answer around here is ‘speak to Sarnie’. He’s got to pay for that Mclaren somehow :-) joking aside, people sing his praises for being super responsive and very competitive.

Good Shout!

Steve

Further questions to the floor - mostly for the benefit of my wife who needs persuading to stray from the 'norm'.

When two banks are offering the same deal what would be your deciding factor in which one to go for?

[clarky92]

TheK1981 said:

Sorry to ask a (probably) stupid question....

My fixed rate with Santander finishes 1st May, looking at the deals online the 5 year fixed with £999 fee seems reasonable to me - plus i have a 123 account and everything seems to work me, do i just need to phone them up, say thats the one I want and they update the deal and send out something for me to sign, or do i have to do the whole solicitors thing again?

Like i said, probably a stupid question....

Edit - Should give a few details:

House Value 250k,
Mortgage will be 130k - want 5k extra for new bathroom and things,
Mortgage rate is 1.89 - 5 year fixed with 999 fee

Am i missing any amazing deals?

Edited by TheK1981 on Monday 7th January 16:51

Good deal you got there, I thought my 5 year fixed at 1.99 with 999 fee was good lol

[MrOrange]

Just done mine last week - Barclays, shorter fix (2yrs) but 1.69% with a £299 fee https://www.barclays.co.uk/content/dam/documents/p...

And can overpay 10% if that’s useful.

[TheK1981]

Sarnie said:

You won't be able to just call up and swap the rate over if you want an extra £5k.....that will trigger a full underwrite........

Afternoon Sarnie,

As it looks like a full application/underwrite it may be worth looking at moving,

I will send you over the basic details if thats ok?

Thanks,
Karl

[Sarnie]

TheK1981 said:

Afternoon Sarnie,

As it looks like a full application/underwrite it may be worth looking at moving,

I will send you over the basic details if thats ok?

Thanks,
Karl

No problem at all Karl!

[TheFungle]

Re-mortgage with Atom Bank moving from Halifax finally complete

Public thanks to Liam (Sarnie) for living up to his well deserved reputation on here.

[Sarnie]

TheFungle said:

Re-mortgage with Atom Bank moving from Halifax finally complete

Public thanks to Liam (Sarnie) for living up to his well deserved reputation on here.

Absolutely no problem at all, thanks for the kind words