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Q & A

Your questions answered

Fiona Brandhorst
Wednesday 30 October 2002 01:00 GMT
Comments

Q I'm looking to remortgage my flat and would like to search for the best deal without trawling around the high street. I have used brokers in the past but have not been happy with the services. Is there a website that will show the best products available at any one time?
Peter Rainey, London

A There are a number of websites offering an enormous range of mortgages. They also operate like a broker – that is, they are paid a commission for any product they sell. Sites such as www.easy-quote.co.uk and www. moneysupermarket.com have thousands of products, many negotiated exclusively with lenders. They also make it clear that they are paid a fee by the lender –Easy-quote will tell you if this is over £250. Most of these websites have a separate section dealing with re-mortgaging, which may not have as many options but will be a good starting point. You will of course have to consider the cost of arrangement fees for a new mortgage and any redemption penalties with your existing lender to see if it is worth the change.

Q My house has been on the market for three weeks and I've had 14 viewings but no offers. It's a four-bedroom house with a large garden in a popular area. We are hoping to buy a house in need of refurbishment through friends and the pressure is on to get a sale. Our agent says the price is right and there have been no adverse comments from viewers. I'm tied into another five weeks with the agent – what should I do?
D Green, Kent

A Make sure the agent is sending people who have their house under offer, which should eliminate time-wasters. Take a good, objective look at your house, with the help of an honest friend. What is the overall first impression? Have you really de-cluttered each room? Make a list of the pros and cons as seen through a viewer's eyes. Is the kitchen or dated? Is the fourth bedroom very small? If the house is being marketed at the top of its price range buyers may be expecting more for their money. Look at other houses for sale in the same area and price bracket to compare. If all things are equal it will be down to price and the way it is being marketed, but you are at a disadvantage having found a house you don't want to lose before selling yours. Any drastic price reduction may look better starting again with another agent. For your own peace of mind, confirm just how long your sellers are prepared to wait for you to sell your own property.

If you would like a query answered on buying or selling a property, e-mail: propertyq&a@independent.co.uk. Only those questions featured will be answered. Any advice given will not be legally binding

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