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Finish Tracker - Onto SVR - Can you change mortgage length?
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humfer
Posts: 1,779 Forumite
Still some way off finishing my current tracker with Nationwide, but one of the options I am looking at is to maybe just remain on their SVR for a couple of years and really try and blitz the mortgage as much as possible. If rates stay roughly the same for the coming months, the SVR will be 2.5% or near that, some way under the best fixed deals. I also like the ability to pay off lump sums whenever. Just one question - current tracker is 10 years so will have 8 years left when come off it. Don't suppose its possible to shorten the mortgage term? I think the answer will be no, but just checking
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By overpaying, you will automatically shorten the termI 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
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