Remortgaging - Any pointers for the best deals?

[Froomee]

Thought i'd put this out to fellow PHer's.

I am looking to remortgage as my current deal (fixed for two years, APR of around 3.79%ish, joint residential mortgage) ends in approximately 8 weeks.

The property is in London and the outstanding amount is around £144,000 on a property worth £220,000.

Ideally i want to reduce the term from 23 years to 20 years and fix this for at least 2/3 years.

Any ideas where i should be looking? any products available with no fees (as this seems the downfall of many)?

As a guide Santander have suggested 3.99% APR fixed for two years (over 20 years) with a £125 fee to switch, payment equates to £872 p/m and I have looked at HSBC and it seems i can get this down to around £825ish (but i need to check the fees, etc by going into the braqnch later this week).

Thanks in advance for any help.

[craigjm]

If you want to move from one lender to another you need to be really realistic about the market value as banks are very hot at the moment on not loaning against last valuation or what the estate agents say its worth. This is important if you are looking to save money by getting under a certain threshold of LTV to get a better rate.

[Mr Noble]

Best deals at the mo are on 3 year trackers. It's a gamble as to wether the BBR will still be .5% in 3 years but if it is then it'll be a winner.

Post office and the Cambridge building society have some very good rates, but you'll need to go via a broker for the latter.


Most of the best rates are found via brokers. They don't cost you anything, you get a better rate and don't have to fill in any of the forms. Hunt out a local mortgage broker company with a good rep and see what they suggest.