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Advice on remortgage. Is this good deal ??

wizzard1974
wizzard1974 Posts: 8 Forumite
edited 7 August 2009 pm31 12:51PM in Mortgages & endowments
Hi i'm wondering wheather this is a good deal ? Got a deal quoted through a mortgage advisor i want to change my mortgage and get a decent fix rate deal.
I owe 105000 on my mortgage at moment have just over 10 months remaining on my fix rate 5 yr 5.39 %.
want to borrow 120,000 on a new mortgage for home improvements which gives me 15000, been quoted a deal 3 year fixed 5.29% with 995 fee with mortgage company. My penalty is 1050 to leave, house valued 160,000, had 21 years remaining on original mortgage, new mortgage has 28yrs. Advisors fees 690. Please any advice is needed, is this decent deal, or are there better fixed rates out there.
Thanks .....

Comments

  • yelf
    yelf Posts: 862 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Its a good deal in my option - is the advisor receiving a proc fee as well as that advisor fee, or is that what it is? But why pay a £1050 fee to get a 0.1% better rate???
  • yelf wrote: »
    Its a good deal in my option - is the advisor receiving a proc fee as well as that advisor fee, or is that what it is? But why pay a £1050 fee to get a 0.1% better rate???


    Hi, redemption penalty is 1050, want some things done house a.s.a.p and just have a feeling come next june that fixed rates will be around 6% so fancied doing it now. my mortg at moment is 700 drops down to 690 on new one. just thought there were better deals out there for 10yr fixed and 5 year fixed.

    Advisor fee or conveyncer is total 690.
    995 fee new mortg goes on new mortgage.
    Thanks.....
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