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remotgage help
blownv8
Posts: 14 Forumite
need to remortgage.
not getting any younger and want rid of it.
ideally i need £48k over 10 yrs repayment mortgage.
property worth approx £90k
want to be able to overpay monthly buy a decent amount while my work situation is good
ideally i'd like to pay this off over 5 or 6 years but dont want to commit to a permanent larger payment due to working environment. hence the overpaying while i can
is this doable ??
not getting any younger and want rid of it.
ideally i need £48k over 10 yrs repayment mortgage.
property worth approx £90k
want to be able to overpay monthly buy a decent amount while my work situation is good
ideally i'd like to pay this off over 5 or 6 years but dont want to commit to a permanent larger payment due to working environment. hence the overpaying while i can
is this doable ??
0
Comments
-
Yes
50% LTV and £14k plus salary
£48k @ 5%(should be able to get better)
£906pm 5y
£774pm 6y
£679pm 7y
£608pm 8y
£553pm 9y
£510pm 10y0 -
Are you familiar with fully flexible mortgages? You can pay extra (there may be some limits to how much extra you can pay during the promotional first period of the mortgage) but if you every need to borrow it back you can do so. Offset mortgages work in a similar way.
As you are borrowing a comparatively small amount, the fee may be more important that finding the lowest interest rate.But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll0 -
Look at a 5 year fixed rate offset mortgage and pump every spare penny into the offset account upto £16K then overpay the mortgage
Just my opinion ( with YBS) and good luck0
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