Our fixed mortgage deal is ending in Jan, will it matter if we only have a small amount of equity?

[BucksFizz]

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i am not knowledgable in this area particularly, but when we got our original mortgage we used a mortgage advisor in one of the estate agents. they work for free because they get payment from the companies whose products they sell.

anyway, ours was fabulous and found us the best deal on mortgage and everything else.
so i'd suggest seeing someone like that, or an IFA

we're buying a house ATM and the mortgage deals are very limited unless you have 25% equity/deposit . As such, you'll probably end up paying a slightly higher rate.

I agree that finding a fee-free broker (eg London and Country) is a good idea.

yes i think it will, as you will be high risk

you might find it hard to get a good deal and be charged a higher rate

are you in a position to put down a larger deposit now?

...although the base rate is so low right now that going onto your current lender's SVR is probably no bad thing.

If you are looking for a 95% mortgage it will probably cost you more. The only way you can really know is to get some quotes. Start looking now and try a broker who can give you some suggestions without a fee upfront. There's one who has a tie-in with the Guardian, London and Country, which has quite a good reputation. Last time I looked (two years, probably) some of the on-line brokers could give you an idea for free. I remember Charcol but can't remember any of the others.

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not sure if they will just use the original home valuw to re calculate ltv???

otherwise everyone going on to a new product will have to pay for survey???

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Your Loan to Value rate will be really high so you'll probably pay a higher rate than someone with less than 60% LTV. I agree with the other posters about the mortgage advisors in estate agents, etc. We're just redoing our mortgage and are using someone who we were put in touch with via MoneySupermarket.com. He doesn't charge a fee but he makes his money through recommending Life insurance and the like.

Have you asked your existing lender about moving on to a different deal? It's often easier to stay with the same lender.

i dont know that they will survey EVERY house to be remortgaged

my mtge rate is coming to an end soon but because the banks svr is at a low i will be better of to go on that as a fixed or tracker rates have high fees (if i weigh it up its not worth paying the fees as we have 30%ltv mtge.)if you are not moving yo may find it is not worth remtging in this market at the moment.. see what your current mtge provider is offering you (consider the fees) and then get some advice from the brokers and see if they can find you a better deal (note with a large ltv it will be hard in this market and dont forget to add the costs of the product fees and the extra insurance this 'free' brokers advice will cost>>>>pls check if you will have to pay solicitors fees as that is not always offered(used to be when the banks were fighting for our business ... no is not the case)

good luck

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