Can you Remortgage with the same LenderIs it possible to reschedule the mortgage with the same lender?
I' m 2 years into a 5-year firm mortgages at 3.49%. I' ve been looking at all the numbers and it seems that I will be much better off reclaiming the mortgages as long as the new interest is below 2.28%. Looking for the deal we might now get is the best at 1.99% and it is with the same lender as we are currently with (HSBC).
Do I wonder if anyone has any prior experiance with the kind of situtation I am in ("remortgaging" with the same lender while in solid period) and whether there was any room for mediation either via the early redemption charges on the up to date mortgages or the reservation charges on the new one?
HSBC unfortunately seems to be the best business at the moment, it would be better than leveraging if there was a better business for which I could risk leaving it. Of course I'll call HSBC sometime and ask them the questions, but I'm currently at work, so I can't, and I think it would be a good way to find out about the options.
Advising remortgage with the same lender - Mortgages Advisory
There is no way anyone can reply to these in an open board without being aware of your particular circumstance. Get close to a stockbroker, be really frank and say that you have a business on the desk of your current bench of x and y, you can hit it. You should ask them enough question to identify the core metrics and available mortgages and then ask them some basic question to see if a 2 or 5 year transaction is the best choice for you and then they will make a referral.
Use the same metrics between the two transactions. It is advisable to consider the overall costs over the duration of the bond, with processing charges added to the mortgages credit, so that only a small portion is contained in the overall costs, and with charges prepaid and the full amount added to the overall costsing.
Use caution when making a comparison that focuses on the amount of the month's pay, the annual percentage rate of charge or the overall costs over the life of the mortgage, none of them is useful and can be an effort to persuade you to take out a mortgage even though it may not be the best for you. If a good stockbroker would tell you to stay with your local financial institution, if that's the best choice, wish you well and carry on.