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Are we stuck?
allylou2002
Posts: 40 Forumite
Hi everyone!
First time poster here...
We would love to move, we are itching to be honest there are a lot of new developments being built around us.
I renewed my mortgage and took 3 years fixed rate - I paniced tbh with the scariness of rate increasing and low and behold they drop!!!! Anways.... I called the mortgage company, and the crazy thing is a mortgage on a new bigger property would be less than waht we are paying now but in order to get out of our fixed rate we would be looking at paying £2000ish.... which obviously is money we just dont have. Is there anyway we can avoid this payment or anything we can do to avoid it or should we just bide our time and wait out the time we have left (May 2011).
Any advice appreciated.... x
First time poster here...
We would love to move, we are itching to be honest there are a lot of new developments being built around us.
I renewed my mortgage and took 3 years fixed rate - I paniced tbh with the scariness of rate increasing and low and behold they drop!!!! Anways.... I called the mortgage company, and the crazy thing is a mortgage on a new bigger property would be less than waht we are paying now but in order to get out of our fixed rate we would be looking at paying £2000ish.... which obviously is money we just dont have. Is there anyway we can avoid this payment or anything we can do to avoid it or should we just bide our time and wait out the time we have left (May 2011).
Any advice appreciated.... x
0
Comments
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Can you not port the fixed rate to the new property and take whatever extra needed borrowing on another product?
Would involve staying with the same lender but us that an issue for you?Who's going to fly your plane? / When you need to make your getaway....0 -
If you don't have £2k to spare, then you probably don't have £5k for Estate Agents fee, solicitors fee, stamp duty, moving costs, etc etc...?0
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Whats the current mortgage
Whats the current house worth(be realistic)
What is the cost of the new house0
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