Mortgage changing within same company?

cheap_skate

Hi I recently about 2 months ago paid £1000 for the privilege of fixing my mortgage at 5.99% for 3 years with the halifax. Whereas I could have stuck with the standard rate and be saving myself a fortune, my mortgage is £209000.

My Question is does anybody know if I change my mortgage within Halifax do I still have to pay redemtion fees which I think are 3% for the first year (over £6000). Or will this be wavied or if not do you know if it can be negotioated.

Thanks for any advice

_Andy_

Yes you'll need to pay them.

cheap_skate

I suppose if the rate come down any more if may be worth even paying the £6000, but would be hard to bear:mad:

dimbo61

You have a huge mortgage of over £209,000 and now know what the payments are for the next 3 years so some peace of mind.
Stop beating yourself up over the deal you took at the time.
You can save yourself 5.99% interest with every penny you can overpay for the next 3 years.
If you have cash ISA,s or other savings and they are paying less than 5.99% now might be a good time to cash them in and overpay on the mortgage or simply throw any spare cash at the mortgage debt rather than borrow even more to change to a slightly cheaper deal.
Getting rid of the debt ( mortgage ) is more important than the interest rate.
GOOD LUCK

feisty1

you people who are rushing to get out of fixed rate mortgages better watch as u could easily end up being caught short......the lenders are bringing in new fixed rates eg bank of scotland are not lending above 75% LTV here are some from the woolwich........fixed for 1 yr BUT 3yr erc's........the lenders love people who dont use advisors and are rate chasers as they are apt to overlook tie-ins etc......how do u know what the rates are going to go up to.......think carefully

NEW! 3.99% fixed until 31.01.2010 then BBBR +1.99%, max 60% LTV, £995 fee, 1% ERC 3yrs
• NEW! 4.49% fixed until 31.01.2010 then BBBR+1.99%, max 70% LTV, £995 fee, 1% ERC 3yrs
• NEW! 4.49% fixed until 31.01.2010 then BBBR +1.99%, max 60% LTV, No fee, 1% ERC 3yrs
• NEW! 4.99% fixed until 31.01.2010 then BBBR+1.99% , max70% LTV, No fee, 1% ERC 3yrs


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