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remorgage

Last post Sat, Sep 27 2008, 12:09 PM by billbo. 4 replies.
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  •  Wed, Sep 24 2008, 5:11 PM

    I am getting to the end of my fixed rate . i owe 18000 on morgage with 8 yrs left but its difficult to remorgage as most state i have to owe more or charges dont make it worth while. any ideas????
    • Post Points: 20
  •  Thu, Sep 25 2008, 9:15 AM

    Re: remorgage

    who is your current lender? have they not offered you anything?

    Can i ask how much the property is worth also?

    Michael

    • Post Points: 20
  •  Thu, Sep 25 2008, 5:47 PM

    Re: remorgage

    bradford bingley and they told me a couple of days ago to ring in about a month???? its worth maybe 90000 being realistic
    • Post Points: 20
  •  Fri, Sep 26 2008, 9:13 AM

    Re: remorgage

    The first thing i would do is ring your current lender to see what they will offer you. I would tend to look at a deal without any fees due to the fact you have such a low mortgage remaining. I wouldn't expect bradford and bingley to be able to offer you anything very competitive due to the situation the company are in, but this wont effect the mortgage payments too much as they are based on such a small loan amount.

    If you aren't happy with what they can offer, somebody like, dare i say it, northern rock will offer a very competitive 5 year fixed rate with no fees attached at all. It wouldn't hurt you to talk to a broker though, after you've been offered something from bradford and bingley though.

    I would also try to sort it ASAP as unfortunately it looks like rates are on their way back up with quite a few lenders.

    Michael

    • Post Points: 20
  •  Sat, Sep 27 2008, 12:09 PM

    Re: remorgage

    cheers mick no answers from bb looks like could end up with northen rock bb all run by gov may try to just pay it off??????????
    • Post Points: 5