Double check on-remortgage deal

halo1234

Would just like to double check with the forum on my thoughts.

My current mortgage deal in coming to an end at which point I switch to the SVR rate of 2.5% after this there are no penalties. My LTV is 82% (£111 outstanding vs £135 value).

I'm not aware of a better flexible deal with such a high LTV. My plan was to manually by month add to the payments until the rate gets to a point where I need to secure a fix rate or until my LTV comes down so I can get a better flexible rate.

Sound about right?

beecher2

Sounds like a plan - make sure you overpay as much as you can and you should hopefully be at 80% by the time rates start climbing.

halo1234

thanks for the response. I've dropped from 5.4 to 2.5% so I plan on keeping the total payment the same, so that's an extra £175ish a month.