mortgages ---

[ilovearnold]

Hi - our mortgage is due for renewal in june.We got stuck with one before that made you pay massive penatly if you changed to a better offer.We have two mortgages in reality- one for house at 77,00 0 and another for an improvment at 10,000.These were treated as seperates mortgages by our current and soon to expire lenders as taken out at diff times.ie we took the initial mortgage and then we took another one toupgarde house.

I have 2 questions please !!
1.Anyone know of any good deals around at mo .we wd prefer set rates rather than tracker as like to know whats going on each month ,and i appriciate you have to pay more for this predictability.
2.when we set up these mortagages last time we got paid two lots of arrangement fees,and had two lots of redemption fees should we have changed lender for better deal during the life of those mortgages.Does anyone know if we can now amalagmate the two.they have differnet end times as the smaller one was taken out about three yrs after the larger one.
3.our priority wd be to get good deal on the larger amount if poss.

Start by looking at the big lenders - Nationwide, Halifax etc to get an idea of rates and charges. Also look at what your current lender are offering you to stay with them - they may offer a cash bonus or a better rate to keep you as a customer.
You could look at a comparison website like money supermarket.
You could speak to an independent financial adviser who has an overview of the market.
If both mortgages are now off of the fixed rate so they have no redemption fee I would assume you can just combine the two - you can alter the term when you remortgage anyway.
But - don't forget if you change provider you will have to go through credit checks and proof of income etc again - if you stay with the same provider you don't.

You can combine the 2 as long as you are happy to put them to same term eg if 10 years left on 1 part and 15 on the other you could opt for all onto 10 years, or any other length of time. If you wanted to keep them finishing at different times you will have to pay 2 arrangement fees again.