FabSwingers.com forum: Remortgaging

By *ady Lick OP Woman
over a year ago

Northampton Somewhere

Helloooooo. Just wondering if anyone has remortgaged since lockdown and if you have did you get a good deal?

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By *uicy jonesMan
over a year ago

near a big hill in s/ shropshire NOT in

"Helloooooo. Just wondering if anyone has remortgaged since lockdown and if you have did you get a good deal? "
haven't remortgage since the lockdown but if you can hang on a few months you might get better deals then ,,, but don't know for sure x

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By *illiamMeetsMan
over a year ago

sunnyside

Looked at that. Will save for sure which helps as taken a huge pay cut.

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By *llaboutthewifeCouple
over a year ago

Cardiff

I wouldn't personally, speaking as an investor here.

Valuation likely to come back lower, speaking from experience

Leave it 3 to 6 months if you can.

Just my thoughts of course

Jo x

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By *ady Lick OP Woman
over a year ago

Northampton Somewhere

Thanks all. Ours isn't due for renewal until September but wasn't sure whether to do it now because our early repayment is pretty low, or if you find a low rate you can 'hold' a product for 12 weeks.

I guess I need a crystal ball!

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By *arkus1812Man
over a year ago

Lifes departure lounge NN9 Northamptonshire East not West MidlandsMidlands

"Helloooooo. Just wondering if anyone has remortgaged since lockdown and if you have did you get a good deal? "

My son in law is a mortgage broker and over the last week his phone has not stopped, lots of re-mortgages and also new mortgages.The main banks are not very helpful but building societies and smaller banks are keen to get new business.

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By *itty Kat ABWoman
over a year ago

North Somerset

I have at a rate of 1.61% for 5 years. I went through the broker on 'money saving expert' and they got me a lower rate than my high st bank had offered me. Had I had time to switch lenders and the climate was different I would have got a better deal than that. Good luck with your mortgage search.

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By *ady Lick OP Woman
over a year ago

Northampton Somewhere

"I have at a rate of 1.61% for 5 years. I went through the broker on 'money saving expert' and they got me a lower rate than my high st bank had offered me. Had I had time to switch lenders and the climate was different I would have got a better deal than that. Good luck with your mortgage search."

Did you speak to your original lender first?

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By *itty Kat ABWoman
over a year ago

North Somerset

Did you speak to your original lender first?"

I did speak to them yes but got the same mortgage offered cheaper through the broker at no extra cost.

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By (user no longer on site)
over a year ago

My views on it,for what its worth,is wait.After this pandemic eases(as i personally think it will never be eradicated)we are headed for a global recession.Interest rates will always fall early on during a recession and normally rise again when the economy begins to recover.Now whether you will see the benefit of this,come Sept or not is another thing.But to answer your question.Do not remortgage yet,but wait.

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By *illiamMeetsMan
over a year ago

sunnyside

"Thanks all. Ours isn't due for renewal until September but wasn't sure whether to do it now because our early repayment is pretty low, or if you find a low rate you can 'hold' a product for 12 weeks.

I guess I need a crystal ball!"

Get looking and quotes now, be valid for a few months so can probably switch within three months of yours expiring. Good luck

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By (user no longer on site)
over a year ago

I’ve been on the variable rate for 15 years now and it’s been the best way to pay my mortgage off due to the economic circumstances over that period. I don’t think things will change for at least five years so if you can resist the temptation to choose a tracker product then do. Being older I have experience of paying 15% interest rates in the early 90’s the “loads a money” culture didn’t help average Joe/Joanne then and wouldn’t now. Repayment mortgage on the variable rate is best for today’s situation and if things change then you are free to pick the best mortgage for you at any given time

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