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Advice please remortgage and consolidate
Moonglow_3
Posts: 4 Newbie
Was with Northern Rock until last year when I remortgaged just before credit crunch. Didn't save money but mortgage would be paid of 2 years earlier 6.4 % repayment over 10 years (I am 54). I have two loans which are lengthy and cost 600 per month. Looked on the internet and think I could save a few hunder per month if I add loans on top of new mortgage. Not very good at this - is it a problem if you try to leave remortgage after a year, the penaly is 1500 but I still think it may be worth it. Current mortgage is 47000. Live on my own and need some advice please.
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Comments
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You may well find a short term saving, however if the mortgage term is going to be longer than the term of the existing loans then the long term cost (i.e. interest) will probably be higher.0
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