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november_whiskey
Posts: 2 Newbie
I have a CAM (current account mortgage) with Virgin. Its a variable rate (3.79%) and affords me the opportunity to overpay/underpay at leisure, and overdraw against my "facility" if I need to get at cash quickly.
Clearly rates will rise at some point and I would like to take advantage of a lower interest rate now and in the immediate term (2-5 yrs), whilst still having flexibility to overpay without penalty.
My dilemma is whether to stick with what I have because of the features it offers (i.e. overpay, underpay, draw-down funds without penalty) or switch to a fixed deal which offers flexibility to overpay.
Any thoughts, advice and help would be appreciated on pros/cons and which deals I should consider.....
Clearly rates will rise at some point and I would like to take advantage of a lower interest rate now and in the immediate term (2-5 yrs), whilst still having flexibility to overpay without penalty.
My dilemma is whether to stick with what I have because of the features it offers (i.e. overpay, underpay, draw-down funds without penalty) or switch to a fixed deal which offers flexibility to overpay.
Any thoughts, advice and help would be appreciated on pros/cons and which deals I should consider.....
0
Comments
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I think rates will go up late next year now. i would keep it and look out for a better deal in jan!0
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