Remortgaging question

We've fixed for 5 years on a mortgage about to start as the rates are very low and we're on a 60% LTV, so can't go down to a lower rate after 2-3 years of paying off. Hopefully the economy will keep picking up to vindicate this decision!
 
just done this.

If you want the best deal, you'll shop around. If ypou move lenders, they will revalue and your LTV will change. I say change as there aren't always guarantees, and you may win/lose.

When your LTV falls into a new threshold (85%/80%/75%) you get different deals, and can save money (we kept our repayments the same, but lopped a year off the mortgage.

Factor in £750 + any mortgage fee's (and if it says a feew is at completion, that means when the mortgage is in your name, not when you pay it off).
 
How long does everyone generally fix there mortgage for ?

We are 3 months in to our first ever mortgage and we have it fixed for 2 years

My first (and only) fix was for 18 months. That was in 2006 when there wasn't really much of a premium associated with fixes so the fact it was over a short period wasn't really a concern. Moved to a lifetime tracker in Feb 2008 and never seen any reason to change as I can't see rates rising fast enough to make it worthwhile switching.
 
Our recent remortgage, we didn't really have a premium to pay (as i recall). Maybe setup fees, but they're the thin end of the wedge.
 
Did you stay with the same bank?
Did you have to pay for the re-valuation?

We moved from Santandar to Leeds Building Society, the re-valuation was free.

Bonus really as our house was valued at 30k more than we paid for it 2 years ago, so got the 75% LTV rates

We ended up fixing for another 2 years at 2.14%
 
This - if you think you could fall into a lower LTV band and save money then just get them to revalue the house and adjust accordingly.

Sounds like I need to get the property revalued then.

I bought it in May under value and since then month on month prices have been climbing - Not really that much, but after two years my 15% equity could become 25%. I have no intention of selling of it makes little difference, but would save a bomb on my mortgage payments.
 
No point fixing for two years now you need to fix for as long as you can before the next general election.

Get the lowest payment for the short term.
 
Our recent remortgage, we didn't really have a premium to pay (as i recall). Maybe setup fees, but they're the thin end of the wedge.

Sorry, I probably wasn't very clear. When I said premium I meant relative to the base rate, not other types of mortgage. Even the market-leading fixes now seem to be at least 1.39% above base rate [which is understandable, given rates can only really go one way].
 
Never fix, currently on a tiny tracker rate thanks to the boe

First mortgage, 5yr fixed tracker @ 2.25+ BR so 2.75% atm (19% LTV - very fortunate). £99 product fee, no ERC's, switch to fix for £90.

Should be cleared by August 2015 :) I'm not overpaying though, saving the capital as I can make a higher return elsewhere. Will decided if I want to/what to do when the time comes (based on what the property market is doing).
 
You're doing very well if you can securely beat a net return of 2.75%.

I don't think it's particularly difficult to beat 2-3% with Stocks & Shares ISA's, of course regular savings or cash ISA's won't come close.

Even most managed funds, I would hope, grow at least double that but of course there are a variety of factors coming in to play and of course it's not 'secure' per se.
 
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