Re-mortgage?

kevindc

Two years ago I took out an interest free mortgage (£300,000). My partner has subsequently sold her own property and we are now considering a joint mortgage on my current property. Of course, with the reduced interest rates, my repayments have reduced considerably in the past year, so the question is: Is this really the right time to be looking at a re-mortgage? House prices in my area haven't taken much of a hit and after getting a valuation 12 months ago which indicated the house had increased in value by £20k, I'm now thinking conservatively and saying it's neutral. We will have around £100,000 to put forward, so will be looking at around £200,000 on the new mortgage.

Any thoughts/advice?

Robert_Sterling_3

Interest free mortgages are hard to come by.

kevindc

Whoops!! If I'd managed an interest free mortgage, I don't think I'd be looking to change it! Interest ONLY

Robert_Sterling_3

kevindc wrote: »

House prices in my area haven't taken much of a hit and after getting a valuation 12 months ago which indicated the house had increased in value by £20k, I'm now thinking conservatively and saying it's neutral.

What do you mean by "it is neutral"

Use the Halifax Price Index and then tell us what it is worth today.
If I was thinking of buying it that is how I would get my first estimate of what it is worth now.