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Mortgage Question
horsemadmoodymare
Posts: 18 Forumite
I have a fixed rate mortgage with around 3.5years left to run on it. Its currently 5.63% is it worth me phoning the bank/building society and asking if I can get a better rate without any fees etc etc? Does anyone know if this is a posibility please?
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Comments
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You'd have to pay an Early Repayment Charge - with 3.5 years stil to run it is likely to be hefty.0
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Read the terms and conditions of your mortgage carefully to find what ERC you will pay.
Then see whats on the market now and how much you could save by moving your mortgage.
some good deals HSBC/Abbey 3.99% fixed for 5 years fee £995 but only 60% LTV. Use "whatsthecost" to work out if its worth moving.0 -
horsemadmoodymare wrote: »I have a fixed rate mortgage with around 3.5years left to run on it. Its currently 5.63% is it worth me phoning the bank/building society and asking if I can get a better rate without any fees etc etc? Does anyone know if this is a posibility please?
More chance of a frost on the sun:oI am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
had nothing to lose by asking! Deep down knew that would be the answer!0
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