Remortgaging could give you a saving option that you never even considered. You might not even be aware that the rate your current mortgage rate is doing you no favours financially! We have put together a RATE WATCH outlining this month's current BEST remortgage products for 60%, 75% and 85% Loan to Valuation, that we have access to here at Tony Lenderyou Mortgages.
We have included fixed rate options for 2, 3, 4/5 and 10 year terms to give you an idea of the overall market. We have also included a representative example to give you a full awareness of what the cost of remortgaging could include, so there is no stone left unturned. Please note, each lender has their own lending policy and every case will be underwritten by the lender before a decision is made
Mortgages up to 60% of property valuation
2 year – 0.84% fixed to 02/12/23 (£749 Fee)
(1.09% fixed to 30/11/23) (£200 Cash-back)
3 year – 0.89% fixed for 3 years
(1.14% fixed for 3 years)
4/5 year – 0.97% fixed to 30/11/2026
(1.19% fixed to 30/11/2026) (£250 Cash-back)
10 year – 1.95% fixed to 01/02/2032
(2.07% fixed to 30/11/2031)
Mortgages up to 75% of property valuation
2 year – 0.94% fixed to 30/11/2023 (£1,499 Fee and £250 Cash-back)
(1.36% fixed to 31/12/2023)
3 year – 0.99% fixed for 3 years
(1.46% fixed for 3 years)
4/5 year – 1.15% fixed to 01/02/2027 (£1,495 Fee)
(1.40% fixed to 31/12/2026)
10 year – 2.34% fixed for 10 years
(2.35% fixed to 30/11/31)
Mortgages up to 85% of property valuation
2 year – 1.64% fixed to 01/02/2024
(1.89% fixed to 01/02/2024)
3 year – 1.71% fixed for 3 years
(2.19% fixed for 3 years)
4/5 year – 2.09% fixed to 01/02/2027*
(2.29% fixed to 01/02/2027)
10 year – 3.44% fixed for 10 years
*Representative example
A mortgage of £127,500 payable over 25 years on Virgin Money Fixed Rate until 1st February 2027 would be 64 payments of £546.02, followed by 23 payments at the Variable Rate (currently 4.34%) of £665.94
The total amount payable would be £190,395.07 made up of loan amount plus Interest (£62,895.07), Arrangement fee (£995) and Broker fee (£295)
The overall cost for comparison is 3.41% APRC representative.
The above are Remortgage products, offer free valuation and legal fees and come with a £995 or £999 arrangement fee which can be added (unless otherwise stated).
I have included a “fee free” option in brackets for each category as this may work out better overall.
Please contact me if you are looking to move house or purchase additional property as other products will apply
All above products are subject the lending criteria of the Lender. Rates are constantly changing; please contact us to check availability.
Please let me know if you’d like to discuss your mortgage in further detail or if you know of someone else looking for mortgage advice.
Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you Remortgage.
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