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Remortgage advice

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  • MarkyMarkD
    MarkyMarkD Posts: 9,912 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Ian W is partially right but probably not for the product you mention. NR 2 year deals with £1,000 "help with fees" have an overhanging penalty (repay the £1,000 if you redeem within 3.5 years, 1.5 years of which is overhanging) which should be highlighted as such but often isn't. Most of the comparison systems do NOT represent these products fairly.

    But as you are talking about a 5 year NR product, the 3.5 year tie isn't an issue.
  • Craig_A
    Craig_A Posts: 151 Forumite
    Sorry - what does NR stand for? :s
  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Northern Rock
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Craig_A
    Craig_A Posts: 151 Forumite
    ooops :) I knew it'd be obvious as soon as someone pointed it out hehe
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