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Mortgage Discount rate about to end....

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1st Time Question so please be kind. Basically my 3 year introductory rate of 3.69% is ending next month and it reverts to Lloyds SVR of 3.99% increasing my monthly payment by roughly £50 to roughl… Read More
morlsballs Avatar
5m, 4w agoPosted 5 months, 4 weeks ago
1st Time Question so please be kind.

Basically my 3 year introductory rate of 3.69% is ending next month and it reverts to Lloyds SVR of 3.99% increasing my monthly payment by roughly £50 to roughly £600 p/m.

I have a meeting on Thursday with the Lloyds Not Independent advisor to discuss options.

I will be living in this current house for about 2 more years and then intend to move.

The amount outstanding on the mortgage is 101,000 and it is worth 125-130000.

Is there anyone out there who has any idea on best options??

Many thanks in advance.
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morlsballs Avatar
5m, 4w agoPosted 5 months, 4 weeks ago
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#1
You have about 80% loan to value ratio then - possibly less as they may undervalue. Take a look at the Money Saving Expert guide linked below as the answer depends on how long a fix you are comfortable with. You'll want to check the mortgage can move with you - and get it in writing - if you plan to move in 2 years.
https://www.moneysavingexpert.com/mortgages/best-buys/?page=results&pageNumber=1&mortgagetype=REMORTGAGE&amountborrow=101%2C000&propertyworth=125%2C000&repayyears=20&producttype[]=FIXED&producttype[]=TRACKER_BBR&producttype[]=DISCOUNT_VARIABLE&producttype[]=STANDARD_VARIABLE&banks_filter=&providerFilter[bank][]=-1&building_societies_filter=&providerFilter[building_societies][]=-1&productlength[]=1&productlength[]=2&resultsOrder=MonthlyPayment
#2
Your best option is to remortgage for a 2 year deal, shop around and see what other mortgage companies offer and see if lloyds match
#3
Nationwide had 2 years deals at 1.79% with no fees
#4
dcx_badass
Nationwide had 2 years deals at 1.79% with no fees


Not at 80% LTV, that OP requires.
#5
thank you guys. when I arrange the results by product fee it seems I can switch for free and pay 500 per month for another 2 years fixed. thanks for your help.

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