Remortgage Help...

parimal

Hi I am new to this forum and I do seriously need advice abt my remortgage..my situation is as follows::

Bought house in september 2009 with repayment 2 yrs fixed intrest of 6.84%. I paid 15% deposite.
Want to apply for remortgage because I am thinking, intrest rate is too much high. woolwich giving me offer of 2 yrs fixed rate of 2.79%..But I need to pay £3200 to halifax for early repayment charges.
Halifax ( my current lender) giving me option of 10%overpayment a year..But it will reduce only £100 a month from £1271 to £1142 a month.

Could anyone please let me know that shall I wait for another year or do I need to swap with woolwich??

dimbo61

This is your first post ?
You took out a mortgage only 6 months ago with a 15% deposit and the best deal you could get then was 6.84%.
Now Woolwich are offering you a FIX for 2 years at 2.79%!!!!!
When you wake up check you eyes and read the offer from the woolwich carefully ( is this a tracker deal)
Contact Halifax and ask how much extra each month can you pay without ERC.
Is it 10% of the outstanding balance or 10% of your regular monthly payments.

parimal

Thanks a lot for your reply,

I can allow to do overpayment upto 10% of outstanding balance. In that case this year I can make upto 18k overpayment.
But still my monthly repaymyment will be 1140.

So, can you please tell me that shall I make overpayment or apply for remortage and pay £3000 penalty to halifax??