Mortgage renegotiation

[BookishKitten]

Hi,
DH and I have a fixed-track mortgage which will come to an end in January 2020.
With interest rates so low at the moment, we are keen to get as good a deal as we can, and we wondered whether we should approach a bank now to get a new mortgage agreement in place for January 2020 or whether this might be too early?

We’re worried about Brexit and the impact this might have on interest rates. We would also like to have an idea of what our monthly outgoings will be like because we would like to find the best possible option for childcare for our child within our budget.

We spoke to a financial services company who did our initial mortgage and they’ve told us their offers would only be valid for 3 months, so we would have to wait until September (ie after Brexit date) to start the process.

Am I right in thinking that we could approach a bank to get a mortgage agreement in place for January? Or would we be turned away because it’s still to early to get this sorted?
Any advice, comments, questions or sugestiona are very welcome!

Remortgage offers only last 3 months, so too soon

I'd have thought it's too early, banks won't want to hold an offer open for that long. Three months max is standard. We've just done ours (current deal expires in June)

Thank you for explaining that !!

Some mortgage companies do 6 months, ours is 3 months though and we had to wait or risk paying the early redemption fine. You could price up paying the early exit fee and the savings a new interest rate could bring assuming it's a better rate. We nearly did this but decided to hang tight as it didn't look like interest figures were going anywhere, sure enough they came down in fact.