Hi Bigred,

I'm not a mortgage advisor but in my experience you will find it difficult to move your mortgage to a new company but your current mortgage lender should be able to offer you different packages and new deals/rates.

This is something which you can discuss with your current mortgage provider to see what they are able to offer.

If you do change the mortgage deal and it results in a change to your mortgage payment per month then it's something which you should notify your Trustee about.

It might be worthwhile speaking with a financial advisor about it for some guidance. Your Trustee may be able to help with this if you don't know of one already. This is a service which we offer our clients.

Hi David,

Many thanks again for your quick and informative response.

Thanks,

Hi Bigred and anyone else considering the same issue.

I'd just like to confirm the information that David has provided. While not currently providing regulated mortgage advice, one of our advice team members is a qualified mortgage broker.

Contacting your existing lender first when a deal comes to an end is always the best policy. This applies during a trust deed, after a trust deed, or for someone who hasn't ever had any kind of credit issues.

Many lenders offer replacement products which can often be good value for existing customers. They also help people to avoid the sometimes significant financial and time costs involved in getting a new mortgage. Most importantly in this context, an existing lender that isn't being asked for additional lending has no extra risk and therefore little reason to run a credit check.