Remortgage Tips: How to Potentially Lower Your Rate Before Completion

[redrider]

@daisiesmom thank you

 

[nota_bene]

My mortgage adviser is doing this i started shopping in june im keeping with the same bank but my interest rates gone down 4 times now im down to paying 160 more than i am now when mine starts in January and ive fixed for 5 year

 

[joshuathree]

@jayteeclark

 

[bfg33]

Do you think they will go down a bit in the next 2 years?

 

[momof4mindofnone]

Yes I did that I didn't know first time round but tbh my broker I have is great so I know I always get a good deal first time round was so low the rate bit managed to get one this time for 4.44% I did longer fix just incase goes up could come down but u have to do what's right at the time

 

[curiousperson]

It’s what brokers do as standard

 

[marlc694]

@curiousperson not all brokers

 

[curiousperson]

@marlc694 ok, good brokers.

 

[fosterjake]

Absolutely do this. Saved ourselves 0.25 % over 5 years

 

[sunny425]

You can also do it 6 months before it's due to expiry. We used a broker and we changed ours about 6 times with different lenders until we got the best deal

 

[in_the_tent]

@sunny425 this

 

[pixelateddream]

@abhawk

 

[donadorina]

Yeh my mortgage advisor automatically does this my rate has come down twice once our mortgage offer at the end of July

 

[jaflores]

@thiswei also do this for their mortgage clients

 

[sahthedreamer]

Very true! Mortgage advisor here I have just done this today for the 3rd time for 1 of my clients!
If it is a purchase though just be careful doing it if you are post exchange as it is not recommended at that point!

 

[blissseeker]

If you had a broker they woukd do this just bread and butter that. But well done Good on you

 

[nikkitikki99]

@mappy

 

[kennylove]

Good advice and we've done the same. Out of interest, what rates are people being offered for 2 year fixed? Our current deal finishes this December. I've already booked a new rate which has dropped 3 times over the Summer but keen to understand what rates people are being offered. (So not moving, not borrowing more, <25% loan to value ).

 

[darmarie]

This is correct. Anyone who is looking to remortgage in the next 6/12 months will hopefully benefit from this greatly. I have been doing this for all of my clients.

 

[johanna1991]

Thanks HSBC said to do this I would need to reapply. Has anyone else done this with HSBC and can tell me what the process was like please?