Changing mortage deals with existing mortgage
Discussion
Z064life said:
Ok cool. Is there no pre-requisite or is it that simple? What's the lag time with the change?
It depends on what you are asking for. If you are wanting to borrow more then expect a full set of underwriting questions. A straight rate change would be simpler but most lenders are notorious for offering mediocre products for current clients and better deals for new clients...hence why I said to drop me a line. The worst that would happen is that you stick with what they offer you Sarnie said:
It depends on what you are asking for. If you are wanting to borrow more then expect a full set of underwriting questions. A straight rate change would be simpler but most lenders are notorious for offering mediocre products for current clients and better deals for new clients...hence why I said to drop me a line. The worst that would happen is that you stick with what they offer you
Sure I'll drop you a line after. By stick with what they offer me, you mean the existing product today?It's a straight rate change, not borrowing more.
Z064life said:
Sure I'll drop you a line after. By stick with what they offer me, you mean the existing product today?
It's a straight rate change, not borrowing more.
I mean, if they say to you "We can offer you 3.5% fixed for five years" and you drop me a mail and we discover it can't be beat, then you can stick with what they have offered you.It's a straight rate change, not borrowing more.
As I said, nothing ventured and all that!
So I spoke to halifax, they are offering 2.64% 2 years fixed.
The house is valued at 270k (was 250k when I got it back in 2010), the SVR is 3.99% or a payment of £625 (After my first deal ended).
A repayment mortgage would be £934, which is well within my income to pay.
Does 2.64% sound like a good deal?
The house is valued at 270k (was 250k when I got it back in 2010), the SVR is 3.99% or a payment of £625 (After my first deal ended).
A repayment mortgage would be £934, which is well within my income to pay.
Does 2.64% sound like a good deal?
Z064life said:
So I spoke to halifax, they are offering 2.64% 2 years fixed.
The house is valued at 270k (was 250k when I got it back in 2010), the SVR is 3.99% or a payment of £625 (After my first deal ended).
A repayment mortgage would be £934, which is well within my income to pay.
Does 2.64% sound like a good deal?
It's impossible to answer without knowing your mortgage balance to ascertain the LTV.........The house is valued at 270k (was 250k when I got it back in 2010), the SVR is 3.99% or a payment of £625 (After my first deal ended).
A repayment mortgage would be £934, which is well within my income to pay.
Does 2.64% sound like a good deal?
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