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@ Years left on Mortgage:look for new lender?
snapyou
Posts: 168
Forumite
I've got two years left on my Halifax Mortgage( £10,500 outstanding).
Is it possible and financially viable to look for another lender ?
Is it possible and financially viable to look for another lender ?
0
Comments
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On such a small outstanding amount, you'd have to do the maths to know if you would make back any fees involved in moving lender.
i.e. even if you found a deal 1% better than you are on now, that would only save £100 a year, so if fees were £200 or more, there's no point.
Fee-free products are often a worse % rate to hide the fees, so won't be the cheapest deal.
A tracker maybe be a cheap option, but in a year if rates shoot up that could be a false economy.Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.0
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