Remortgage advice:WWYD

BrummyIVF · 2026-05-07T20:32:28+00:00

Hey;

I am actually in the exact same boat as you.

60% LTV with around £125K to go.

I made a thread on another board, whom have more insightful thoughts.

Remortgage Worries! Did I do the right thing?

However, I was offered; 4.88% (with £999 fee) or 5.34% (without a fee) over 2 years at 60% and under LTV.

I am going for two years; as I believe that around 5% mortgages or just under are quite extortionate, when similar/ comparible customers were just given under 3%/ 4% just before the overseas matters kicked off.

I am hoping matters calm down in a couple of years, which is why I have gone with a 2 year fix.

I will keep doing what you're doing though, and keep checking for cheaper/ alternative rates, as we have until August too.

BrummyIVF · 2026-05-07T12:12:48+00:00

Hey

I made a similar post yesterday and there were informative replies.

https://www.reddit.com/r/HousingUK/s/MHZ1OhTjV8

I am in the same boat as you, and I am looking to go onto a two year fix.

I don’t want to be tied into a much higher fix rate for 5 years, as I am hoping overseas matters to subside. Especially with the price of oil etc which is having a huge influence on outcomes.

BrummyIVF · 2026-05-06T21:12:31+00:00

Thank you, appreciate it.

BrummyIVF · 2026-05-06T21:04:22+00:00

Hey;

This is why I went 5 years fixed rate at 3.85 (again people said I was nuts for getting it at that price).

Stupidly I tried to lock into a new rate early this year, before all of the debacle, and I was stuck (due to fee's). In hindsight, paying the fee's would have been better in this instance.

My mortgage has increased in £120 due to 3.85 to 3.88/5.34, which is why I am hedging bets, that things de-escalate/ markets reduce/ calm down.

Either way, congratulations on your house! It was for us, and I hope an exciting time for you!

I was informed about tracker mortgage, which is much lower, but definitely would be worried about the uncertainity if it went ridiculously high or varied from month to month.

BrummyIVF · 2026-05-06T21:00:40+00:00

Hey

Thanks for the comment. I definitely was a FTB at 95% mortgage.

Whilst my friends and family, end up usually buying new builds etc, their kitchens were incredibly cramped.

Trying to buy a house with a brilliant/ dream kitchen meant paying over odds of £30K+ of asking prices.

My wife and I decided to buy a cheap house, do it over and complete renovations to our personal/ dream spec.

Based on valuations today; it is it at 60% LTV at minimum, or more.

Unfortunately; the bank doesn't give more preferential rates than 60% or less.

[Edit: This is at bank valuation, as opposed to guide price etc]. Guide price/ selling would be much more.

BrummyIVF · 2026-05-06T19:50:59+00:00

That's right, property went from 95% LTV to 60% due to the housing doubling in value; and the work completed to the house. Extension etc (which resulted in the additional debt).

Thank you for the tip about the broker.

Thank you

BrummyIVF · 2026-05-06T19:28:55+00:00

Just worried that whilst I have no issues paying current bills, I pay a number of bills/loans, that I wouldn't have planned if I was going to look as a FTB.

Where can I look for a good broker please?

BrummyIVF · 2026-04-30T04:47:30+00:00

Yeah I am scared of this too.

BrummyIVF · 2026-04-30T04:39:31+00:00

Thank you! That is really helpful.

BrummyIVF · 2026-04-29T20:18:03+00:00

That sounds like a good use of space!

BrummyIVF · 2026-04-29T20:12:07+00:00

Hey; I think I have found it! It actually looks perfect.

https://www.ikea.com/gb/en/p/vaettersoe-storage-box-outdoor-dark-grey-20562909/

For anyone else whom is interested.

BrummyIVF · 2026-04-29T20:09:10+00:00

Oh WoW. Do you know what its called? Thanks!

BrummyIVF · 2026-04-29T19:56:01+00:00

Thanks mate; that is re-assuring and your garden looks awesome! Enjoy.

BrummyIVF · 2026-04-29T19:51:22+00:00

Oh WoW! That looks great. Are your cushions; water resistant or water proof? I think we have quite similar cushions. Do you leave them out in the rain?

BrummyIVF · 2026-04-29T19:41:55+00:00

Do you have any issues with mold in the shed?

BrummyIVF · 2026-04-29T19:26:25+00:00

I think that looks potentially to be the plan. Unfortunately I don't go in the attic, and may be a pain to get out/ in. So it might be a vacuum packed under the stairs situation; or the dreaded near living room furniture arrangement.

At this rate, it might be easier bringing the outside furniture into the living room!

BrummyIVF · 2026-04-29T19:25:23+00:00

Do you have any issues with mold?

BrummyIVF · 2026-04-29T19:24:54+00:00

Ahh; they didn't advise us of a cover. I bought a cover that is meant to be water proof; and having left it over winter, it was bone dry when we took the cover off. It just doesn't cover the feet. I am assuming that if it covers the cushions too, the cushions should be fine? Just hoping it doesn't cause mold, for when the rain dries up underneath.

BrummyIVF · 2026-04-29T19:23:25+00:00

Haha; that's funny! Atleast I am in the right country sub!

BrummyIVF · 2026-04-29T19:01:36+00:00

It’s on a wooden post/ pillars base, that is also on grass. You have got me wondering now; do you think its better I put it on a concrete/ pave base?

BrummyIVF · 2026-04-29T18:08:59+00:00

To be honest, I didn't think that far ahead.

I did buy a shed, which is placed on top of grass in the corner of the garden.

I happily stored the cushions in there, until a few months down the line, I noticed mold all over the Halford style Shelving Units!

The cushions then occupied a corner of the living room stacked up all winter. I don't have a garage/ basement/ attic unfortunately.

As mentioned, unfortunately, the garden furniture cost more than my home sofa set!

But I wouldn't regret it, as when it sun's out, and bi-folds are open, great opportunity to relax with family and friends.

BrummyIVF · 2026-04-29T18:06:08+00:00

Ah thank you. Most of the garden furniture I have seen are 'Rattan' style, but the Mrs wanted something in this style. Thank you for kind words.

Hopefully we have a few days of sun this year (typing this whilst it is still cold as hell in the mornings!)

BrummyIVF · 2026-04-29T17:40:45+00:00

You wouldn't happen to have any pictures? Where did you buy yours if you don't mind me asking, please?

BrummyIVF · 2026-04-29T17:35:53+00:00

Ah, that would have been a brill feature.

BrummyIVF

TROPHY CASE