Mortage Advice For A Money Saving Novice

nicenswift

With things being a little tight at the moment it has made me look at reducing our monthly costs and the main way I think I can do this is looking at my mortage

My mortage is a 5 year fixed rate repayment at 5.25% with Abbey and has 2 years to run.

The mortage outstanding amount is 110,000 and my house is valued at about 200.000

Should i be looking to end it early if so would there be a fee from Abbey

And also would I be best getting a fixed rate 2 year or SVR

I am also looking at getting a better deal for my Mortage preotection which is currently with Abbey and costs me £55 a month to protect my Mortgage payments of £690

As you can see I am lacking in financial sense

Would love and be very gratefull to hear anyones advice

_Andy_

Yes there would be a fee, if you give them a call they will tell you exactly what. You could also work this out by checking the redemption fee on your KFI/mortgage offer.