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Mortgage advice move or not?
jsek
Posts: 11 Forumite
HI I have a fixed rate of 5.29% with 4 years to go until it ends. I would incur a 4% penalty if i leave now. I owe 80000 but my property is worth 170,000. can anyone advise if it is worth my while switching to a new rate? I am no good at working these things out so advise would be helpful.
Thanks
Thanks
0
Comments
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I would be a happy bunny if I were paid a couple of quid for every one of these enquiries but have to say I've not seen one yet that stacked up.
Not to say you wouldn't be the first but take into account entry fees for a new rate on top of your exit fees along with potential variations in the rate over the next 4 years if you go for a tracker or similar?
Consider why you went for a fixed rate in the first place.........stable budget possibly?Happily an ex mortgage broker!0
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