Fixed rate mortgage due to end

[Outoutoutshout]

My fixed rate mortgage is due to end in early November. What do I need to do now and when?
I've got about another 10 years of payments left I reccon.

I use a free independent Financial Advisor. She contacts us a few months before the deal is due to end, checks if there's more competitive offer with another provider and then does all the paperwork for the remortgage. After years of doing it myself, I wouldn't be without her now

I'm really worried as I'm now on a temporary contract which I wasn't on when I got my original morgage.

With a temporary contract I'd definitely be speaking to a mortgage advisor as they'd have a much better idea what companies you might be accepted by. You can book in rates for a few months in advance, so with interest rates likely to go up again I'd do so sooner rather than later.

Your worst case scenario here is that you'd revert to your current mortgage company's standard variable rate - not great, but you wouldn't be in a situation where you simply couldn't get any mortgage.

OP I was advised on here to use London and Country. They were really helpful and did all the legwork. Previously I've done it all myself and it was so less stressful having someone do it for me (for no cost to me).

I've just re-done an offer to start Dec. With the rates rising I wanted to try and lock in the interest rate.

Get in touch with a mortgage advisor now. You can lock in a new fixed deal 3-6 months before the end of our current deal. BOE will meet again in September and almost certainly raise the base rate again.

Don’t worry. Most lenders open up their automatic new product selection 3 months before expiry of your existing if you log into your account online.

This won’t need you to prove your employment etc, it’ll just switch you to a new product.

Recently I had my offer appear on Barclays and I secured at 2.27% for 10 years which with overpayments will satisfy the mortgage.

If you do a product switch with your existing lender (rather than a remortgage with another company) then you won't be asked about your income/contract status.

Thanks everyone

You need to get in touch with a mortgage broker now, with your contract to hand. A new deal can he secured now as your mortgage rate ends very soon. And id recommend doing so now before future rate rises. I'm a whole of market advisor and we work with contractors. Get in touch if you would like help

You'll be able to find a new deal now. Most mortgage brokers can find deals 6 months in advance (mine secured my new deal in July to start 1st Jan). But your bank will offer you options 3 months before, too.

Use a financial advisor/broker but don't use London and country. They really fucked ours up with their incompetence. Ended up getting a few hundred quid back but would rather they just knew what they were talking about, followed the guidelines set by them and didn't waste our time and money.

You can do a product transfer, that's one option. But worth looking at the overall picture and costings first - product transfer vs Remortgage.