We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Change or keep current deal
Nephthys
Posts: 366 Forumite
Hi all,
I have been lurking on the boards for a while and just got up the nerve to come on and ask a question.
We are currently ending our first year of a 3yr fix with A&L at 6.24%. Owe £69,000 (house approximately £140K - £145K) and have 13.5 years left to run.
I have contacted A&L and have the offer to change to the 5yr fix at 3.99%. The redemption fee is £2060 - no other fees involved. Repayments would change from £630 to £583.
I would really appreciate other people's opinions as to whether this is a good idea or not.
Many thanks
N
I have been lurking on the boards for a while and just got up the nerve to come on and ask a question.
We are currently ending our first year of a 3yr fix with A&L at 6.24%. Owe £69,000 (house approximately £140K - £145K) and have 13.5 years left to run.
I have contacted A&L and have the offer to change to the 5yr fix at 3.99%. The redemption fee is £2060 - no other fees involved. Repayments would change from £630 to £583.
I would really appreciate other people's opinions as to whether this is a good idea or not.
Many thanks
N
0
Comments
-
Unless I'm missing something looks like you are better to stay put. You will only save £1128 + be fixed for a further 2 years and it will cost you £2060. I certainly would stick.:j Trytryagain FLYLADY - SAYE £700 each month Premium Bonds £713 Mortgage Was £100,000@20/6/08 now zilch 21/4/15:beer: WTL - 52 (I'll do it 4 MUM)0
-
Thanks shop-to-drop. I think I have looked at the figures so much I've gone square eyed!
N0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards