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Advice on buy to let mortgage from 2004

hildamay1
Posts: 4 Newbie

We applied for a mortgage in 2004 for £50,000 over 10 years.This was for a garden room in our own house on which we owed no money. We were advised by Nat West that the best and easiest way to borrow the money was with a buy to let mortgage as we also own a couple of properties that have no mortgage. We have to pay 62 payments at a fixed rate of 5.95% (£553.85) until 31/1/10 and then 58 payments at a variable rate (Which was 7.29% at the time of taking out the mortgage) - £582.21
We feel now that we have paid far too much for this mortgage and hope to reduce the payments somehow. Any advice please
We feel now that we have paid far too much for this mortgage and hope to reduce the payments somehow. Any advice please

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