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Original poster

mortgage help?

6 replies

OutOutLetItAllOut · 14/02/2011 11:32

we have 47,000 mortagae, and it is currently vairable. we want to lock into a fixed rate one again in the near future. where is best ot get advice? some of the big companies are charging MASSIVE arrangement fees, so i want to avoid adding 1000 to the amount if we can.

OP posts:

Chil1234 · 14/02/2011 12:40

Look around for an independent mortgage advisor. I've used one for quite a few years and they seem to be able to get better deals than I can as a private individual. A good one will place various options on the table based on your circumstances e.g. if you want to be able to pay off lump sums without early redemption charges. The one I use gets a finder's fee from the eventual lender but this cost is not passed onto me. ie. If I borrow £100k I borrow £100k (and a few admin charges are normal) and not £100k+ finder's fee

HaveToWearHeels · 14/02/2011 12:45

Use an independant mortgage advisor, they usually have better rates available to them and can, at the push of a button, compare several companies. Shouldn't cost you anything as they will get paid by whoever you go with. Make sure they are INDEPENDANT though not tied in to any companies. If you are in Berkshire I can give you the name of a fantastic lady ?

Gonzo33 · 14/02/2011 17:01

Definately use an independant mortgage advisor (broker). Be aware with fixed rates that some lenders will charge booking fees as a matter of course.

oiwhatsoccuring · 14/02/2011 17:04

Your mortgage is quite small compared to average, so you may find the fees are disproportionately large.
Some lenders, eg HSBC or First Direct, don't go via brokers and can have some cracking deals.
Why not go to moneyfacts or moneysupermarket and see what's available to you based on your loan to valuation, many are fee free remortgage offers.

Original poster

OutOutLetItAllOut · 14/02/2011 21:13

OIWHATSOCCURING
i found that today, some places want 2000 nearly in fees..which i a hell of alot on a small amount.

OP posts:

Gonzo33 · 15/02/2011 06:49

Thats due to the fact that the average mortgage is much higher than 47k and the people fixing on the rate will save much more than that.

OutOutLetItAllOut is right there are plenty of websites that can help you look. A good one I have used in the past is:

www.charcol.co.uk/

I think you have to register now, but it is worth it. I should say that although I am a qualified mortgage advisor I have nothing to do with that site, nor any other as I am currently a sahm.

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