Advice needed - whether to come out of fix

richmondhamptoncourt

Hi

Any advice appreciated.

Have 2 years 4 months left on a (3 year) 5.75% fix with Nationwide for £112,00.00 term of 15 years, capital and repayment. Early redemption charge of around £2,200.00. House worth about £375,000. I got a fix as I am a careful borrower not wanting increased rates. Now considering whether worth coming out of that product and taking perhaps a long fix for 5 years as rates seem low. Am not sure if this would be worth it after taking account of ERC and arrangement costs etc. Any advice/help very much appreciated.

Richmond

rent_and_buy

i would come out of it, you will save well over 100 pound a month by changing and over 5 years that is over 6000 pound.

i know you have to tak arrangement fee and erc but you will still save 3000 pound