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First Direct 4.29 5 year fixed Questions
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bazza1603
Posts: 591 Forumite
Hi,
Currently have two charges on my house, for 5.17 and 6.79 with approx £2500 ERC charges
I am ooking at fixing for 5 years for better long term security and have some questions. I am hoping someone here has experience so I dont have to ring tomorrow if its not suitable.
1. Can you overpay by any amount. Currently I overpay by about 10 percent, but would like to increase this to 45 percent.
2. Can you add ERC, and new mortage fees to the new mortgage. I will still have a 49 percent LTV even with this included and am okay to pay this upfront.
3. Really daft question. But is there anything to watch with doing this. Anyway the second option falls down. I have overpaid now for approx 4 years and have never stopped for any reason so I am committed
Taking it over 17 years and paying a set amount
Taking if over 25 years and overpaying to reduce term to 17 years
Thanks in advance
Barry
Currently have two charges on my house, for 5.17 and 6.79 with approx £2500 ERC charges
I am ooking at fixing for 5 years for better long term security and have some questions. I am hoping someone here has experience so I dont have to ring tomorrow if its not suitable.
1. Can you overpay by any amount. Currently I overpay by about 10 percent, but would like to increase this to 45 percent.
2. Can you add ERC, and new mortage fees to the new mortgage. I will still have a 49 percent LTV even with this included and am okay to pay this upfront.
3. Really daft question. But is there anything to watch with doing this. Anyway the second option falls down. I have overpaid now for approx 4 years and have never stopped for any reason so I am committed
Taking it over 17 years and paying a set amount
Taking if over 25 years and overpaying to reduce term to 17 years
Thanks in advance
Barry
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