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Remortgage advice please

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Posted 5th Apr
Our fixed term ends in June. Nationwide have sent a letter saying we could transfer now. Have been offered 1.44% fixed 5 years. Since our last renewal I am now a stay at home parent whixh I know can effect the offers you can get. Question is, I've looked around and it seems like a good rate but I don't know if I should wait? Thanks for any advice, I really appreciate it ❤️
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If you’re happy take the offer. Things could go either way with the way things are at the moment. I don’t thinks banks will be lending as easy once this blows over. You could end up in a pickle by holding out. I’m sure others will say the opposite but if you are happy with the offer that is in the table I’d be taking it. A remortgage through other providers will involve looking into your financials for the last 12 months at least and you said they have changed which may effect outcomes of affordability.
fearghalg05/04/2020 18:38

If you’re happy take the offer. Things could go either way with the way t …If you’re happy take the offer. Things could go either way with the way things are at the moment. I don’t thinks banks will be lending as easy once this blows over. You could end up in a pickle by holding out. I’m sure others will say the opposite but if you are happy with the offer that is in the table I’d be taking it. A remortgage through other providers will involve looking into your financials for the last 12 months at least and you said they have changed which may effect outcomes of affordability.


You're awesome, thank you 😘
If the bank has offered this now and your happy with the amount I would snap it up. The markets could go either way with this pandemic and the future of lending is very uneasy at the moment
fearghalg05/04/2020 18:38

If you’re happy take the offer. Things could go either way with the way t …If you’re happy take the offer. Things could go either way with the way things are at the moment. I don’t thinks banks will be lending as easy once this blows over. You could end up in a pickle by holding out. I’m sure others will say the opposite but if you are happy with the offer that is in the table I’d be taking it. A remortgage through other providers will involve looking into your financials for the last 12 months at least and you said they have changed which may effect outcomes of affordability.



This is great advice. Santander did the same with me, when my 5yr fix was coming to an end they offered me a rate, no questions asked that was 1.8% lower than my original. That in itself was good enough, but I’d also gone self employed the previous year and couldn’t prove any tax returns at that point so it would have been difficult to change provider. Accepted it but then upped the payments to the original amount as I could still afford it and thus have overpaid for two years.

Also note OP, some providers will switch you to the lower rate immediately so you could save a bit before the remortgage date as well if the payments are lower.
That's good deal.
Was offered 1.59 by Halifax.
Have you looked at the Nationwide 5yr fix offer with zero fee? It’s 1.69%, but depending on the size of your mortgage it may be cheaper over the 5yr period.

I’m in a similar situation, due to renew with NAtionwide in July. Currently on a tracker (which is now 1.09+0.1BOE), but they’ve changed their new trackers in the last week to 1.59+BOE which is a bit rubbish. Annoying as I had started looking at remortgage options 3~4 weeks ago when I could have locked myself back on the same as my current (before all the recent drops etc).

Now looking at fix options as rate will inevitably increase in the coming years.
They offered me 1.64% with £999 fee at 65% ltv so yours seems good. I switched instead for 1.59% with a £495 fee instead. Took a while though with everything currently going on.
For 5 year deals thats pretty much the top deal around at the moment: moneyfacts.co.uk/mor…lse

There is a slightly lower one available BUT due to the higher fees it costs more over the 5 years.

The TSB rate is only really cheaper over the 5 years due to the £5 cheaper fees but it reverts to a slightly higher APR after that.

In my own humble opinion that deal is VERY good based upon the added benefit of no work involved!


If you want to be cheeky why not phone and see if you can get some wiggle on the fees, or, moved to it sooner if its a lower APR than you are on now!?
Personally I would fix for 5 years years, that doesn't seem like a bad deal, but as an earlier poster said check the fee free offer and see what is cheaper, as it looks like you have a smallish mortgage based on the payment amount.

Edit Just to add....

We don't know what the market may or may not do over the next 5 years or so, so is a bit of a gamble, but if you want piece of mind knowing what you are going to pay for the next 5 years no matter what happens, then picking a fixed deal is a good idea.

It you want a bit of a gamble then go for variable.

Im still stuck on a 2.14 fixed deal, do I regret it, not really, i knew that it was going to be what I pay. Hindsight is a wonderful thing, but no regrets my end.
Edited by: "Bob24601" 5th Apr
Thank you you beautiful bunch. I will get on it with Nationwide and looks at the fee free one too. Thanks so much for your time
I would do a 5 term fix with existing lenderas gives you certainty of payments over 5 years and not having to go through new application process that would be required if you moved to other lenders.
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