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    • iliria
    • By iliria 11th Sep 17, 7:26 PM
    • 6Posts
    • 0Thanks
    iliria
    5yr or 10yr fixed?
    • #1
    • 11th Sep 17, 7:26 PM
    5yr or 10yr fixed? 11th Sep 17 at 7:26 PM
    I am due to remortgage my house and I'm not sure what to go for:

    fixed 5yr at 1.59% or fixed 10 yr at 2.59%? Both provided by HSBC.

    Any advice please?
Page 1
    • gazter
    • By gazter 11th Sep 17, 7:58 PM
    • 917 Posts
    • 716 Thanks
    gazter
    • #2
    • 11th Sep 17, 7:58 PM
    • #2
    • 11th Sep 17, 7:58 PM
    I am due to remortgage my house and I'm not sure what to go for:

    fixed 5yr at 1.59% or fixed 10 yr at 2.59%? Both provided by HSBC.

    Any advice please?
    Originally posted by iliria
    Are there any upfront fees? Do the numbers. Are the monthly payments much different? What are the consequences of entering a 10 year fix and wanting to end it early?
    • iliria
    • By iliria 11th Sep 17, 9:45 PM
    • 6 Posts
    • 0 Thanks
    iliria
    • #3
    • 11th Sep 17, 9:45 PM
    • #3
    • 11th Sep 17, 9:45 PM
    The choices I have are basically:

    5yr fixed @ 1.59% with £950 upfront fees
    5yr fixed @ 1.84% with no fees
    10yr fixed @ 2.59% with no fees

    It sounds like the middle one might be the best in this case. Unless I am mistaken?
    • juniordoc
    • By juniordoc 11th Sep 17, 9:49 PM
    • 228 Posts
    • 189 Thanks
    juniordoc
    • #4
    • 11th Sep 17, 9:49 PM
    • #4
    • 11th Sep 17, 9:49 PM
    That depends on how much the outstanding balance of your mortgage is.....
    • iliria
    • By iliria 11th Sep 17, 10:10 PM
    • 6 Posts
    • 0 Thanks
    iliria
    • #5
    • 11th Sep 17, 10:10 PM
    • #5
    • 11th Sep 17, 10:10 PM
    thankfully £82000
    • getmore4less
    • By getmore4less 12th Sep 17, 12:54 AM
    • 30,299 Posts
    • 18,120 Thanks
    getmore4less
    • #6
    • 12th Sep 17, 12:54 AM
    • #6
    • 12th Sep 17, 12:54 AM
    in 5 years paying £440pm (around 20y full term)

    £82950 @ 1.59% £62350
    £82000 @ 1.84% £62265
    £82000 @ 2.59% £65171

    Other factors, real full term, how much can you pay, do you want to overpay, LTV now and in 5 years , any plans to move or increase borrowing....
    • iliria
    • By iliria 12th Sep 17, 4:32 PM
    • 6 Posts
    • 0 Thanks
    iliria
    • #7
    • 12th Sep 17, 4:32 PM
    • #7
    • 12th Sep 17, 4:32 PM
    in 5 years paying £440pm (around 20y full term)

    £82950 @ 1.59% £62350
    £82000 @ 1.84% £62265
    £82000 @ 2.59% £65171

    Other factors, real full term, how much can you pay, do you want to overpay, LTV now and in 5 years , any plans to move or increase borrowing....
    Originally posted by getmore4less
    Do the figures on the right the amount of mortgage left to pay after the fixed period? The mortgage advisor at the bank told me that the 1.84% option is better than the 1.59 option?? But looking at those figures it's the opposite.
    • getmore4less
    • By getmore4less 12th Sep 17, 5:57 PM
    • 30,299 Posts
    • 18,120 Thanks
    getmore4less
    • #8
    • 12th Sep 17, 5:57 PM
    • #8
    • 12th Sep 17, 5:57 PM
    Do the figures on the right the amount of mortgage left to pay after the fixed period? The mortgage advisor at the bank told me that the 1.84% option is better than the 1.59 option?? But looking at those figures it's the opposite.
    Originally posted by iliria
    Why do you think that?
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