Mortgage Rate Rises

[doodah]

We're due for our first renewal in a few months, how do we go about getting an updated estimated price of the house? Or would the current lender do so?

Edit - thanks @Maccy

 

[Maccy]

We're due for our first renewal in a few months, how do we go about getting an updated estimated price of the house? Or would the current lender do so?

The lender should do that, if you're switching to a new lender then they may send someone round to give a valuation.

 

[robj20]

Generally if you take a new rate early can you take a better rate of available before the fix ends.

 

[Koalaboy]

Generally if you take a new rate early can you take a better rate of available before the fix ends.

We had Nationwide offer us a renewal rate in Nov, to take action in March. We took a new fixed, that seems good and it's guaranteed.. but we can also change our minds up until it actually renews.

Once the new rate is active though, there would likely be an early-cancellation penalty I think, like usual.

 

[robj20]

We had Nationwide offer us a renewal rate in Nov, to take action in March. We took a new fixed, that seems good and it's guaranteed.. but we can also change our minds up until it actually renews.

Once the new rate is active though, there would likely be an early-cancellation penalty I think, like usual.

That's what I thought so our fix ends in September but can apply in April. I was thinking just take the best rate I can in April then if things get better change to that instead.

 

[Koalaboy]

That's what I thought so our fix ends in September but can apply in April. I was thinking just take the best rate I can in April then if things get better change to that instead.

Yup. Should be fine I think - obviously depends on lender.

I have a 4.29% 3-year fixed lined up, which I think I'll keep as it seems inline with expectations.