Has anyone remortgaged recently? What sort of rates were they offered? Was it harder than last time?

[nkf]

I read today that the average two year fixed is 7% which is a lot steeper than, say two years ago. We have about seven months to go and I'm wondering what we might be looking at next year.

Anyone?

we're looking at the moment for beginning oct and rates are rising every month
the best we've found is 6.19% fixed for 5 years , but God it's a nightmare
we're cashing everything in to pay off as much of the total as possible otherwise our mortgage will be rising by £400 or so per month

We were very, very lucky when we re-mortgaged in April. We managed to get a 5 year fixed rate at 4.99% with first direct. I would highly recommend FD, service was great and efficent. Unsure what there current rates are and whether they are still offering mortgage deals.

Oh - You have to own 20% of your property to be eligible for their cheap(er) deals.

HTH's

no current rates are nowhere near that now, 4.99% very lucky,
FD up to 6.4% or so now

Still not too bad for the current climate I suppose.

Rates are on the up it depend on your mortgage and the loan to value of it (ie loan size against house value) HSBC generally offering best rates about 6.1 ish I believe. However things may improve next year in that more banks may be lending than there are at the moment. Because there are so few lenders it is pushing rates up. once the confidence comes back you will see rates come down a bit. You will never have the 4% deals of yester year but I do beleve the 5% ish deals may return depending on economic circumstances of course

I've been assuming that interest rates will rise. We need to wait till next year but I'm assuming we will have to pay quite a bit more.

We're coming to the end of a fix (4.79%) next month. In the current climate does it make sense to just stick with the SVR and wait and see? We can't really go for a fix longer than 2 years and the deals at the mo are around or above the SVR.

I may be able to pay quite a large chunk off the total which would keep the repayments roughly around the same.

I just got a lifetime tracker which is about .65% above Bank of England base rate so I think it's about 5.85% at the moment, maybe less . I've always been on fixed before but this was best for me.

It does depend alot on your equity though, mine is quite a low mortgage against the equity.

we're in the process of remortgaging at the moment and the best we've managed to get is 5.88% fixed for 3 years. It's pretty good, but a bit of a hike from what we've been used to (currently paying 0.21% below base rate).

I understand this rate has been withdrawn now - we got in there at the last minute - and if we were looking now it would be more like 6.2%.

I have no idea what the interest rates are going to be like next year, but we decided to fix for 3 years just to give us some peace of mind and allow us to plan our finances for certain length of time.

I wouldn't say the process has been harder than last time as we have a good broker and we own 50% equity in our property, good credit rating, etc.

MoneySavingExpert.com has lots of good advice on remortgaging. HSBC's Rate Matcher mortgage is coming to an end this weekend I think, so might be worth a look for anyone whose fixed rate is coming to an end in the next 6 months - although their arrangement fees are massive!