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Any Advice would be gratefully received

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Im currently fixed to a 4.99 deal until Jan 2010, I owe about 56k and the house is worth around 100k currently paying back £394.00. My bank has just offered me a deal to fix again early to the same deal but for 5yrs with no early repayment charge, waiving the £995 product deal and no legal, valuations fee!
Does this sound like a good deal for a large family on a tight budget :j

many thanks

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