Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • dan~
    • By dan~ 10th Jul 17, 8:00 PM
    • 45Posts
    • 5Thanks
    dan~
    Moving house - fixed rate mortgage
    • #1
    • 10th Jul 17, 8:00 PM
    Moving house - fixed rate mortgage 10th Jul 17 at 8:00 PM
    Hello,

    I'm 2 years into a 5 years fixed mortgage and I've accepted an offer on my house but still nothing available yet.

    I had full asking price at £240k and have 123k left on the mortgage, which leaves me with £117k deposit for next house, then i can borrow £253k.

    So far so good, the problem is i'm struggling to work out if its worth porting my mortgage and pay a fine of 3k ish or whether to keep my existing mortgage and have another one for 3 years then when they both expire go onto a new one. These are the options I have with hsbc and going with 2 sounds a bit of a nightmare as eventually they'll need to become one.

    In my mind its best to pay the fine and get another 5 year fixed on the total amount but then funds become a little tight unless hsbc can put the fine in with the mortgage.

    If i try to look at having the 2 mortgages existing plus the other one what would my deposit be, so i can do some sums?

    Its annoying im getting a fine especially as im not leaving hsbc and actually extending morgage!
Page 1
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,462Posts Today

6,917Users online

Martin's Twitter
  • RT @thismorning: 'Sometimes the best gift is releasing somebody else from the obligation of having to give to you' says @MartinSLewis. Do y?

  • Shana tova umetuka - a sweet Jewish New Year to all celebrating. I won't be online the rest of t'week, as I take the time to be with family

  • Dear Steve. Please note doing a poll to ask people's opinion does not in itself imply an opinion! https://t.co/UGvWlMURxy

  • Follow Martin