We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
MFW by Christmas 2020
Everyday_2
Posts: 2 Newbie
Current Outstanding Balance : £218,000
Current Mortgage : 5.84% Fixed Until July 2011
£1,449 Repayment per month.
Thinking about buying myself out of current deal with Santander and going with 10 year fix from Yorkshire BS.
Would cost @ £6K to get out....but doubt I will still be able to get 4.99% l10 year fix next summer....any thoughts / advice?
Whatever standard monthly repayments are I plan overpay so that total monthly payment is £2K.
Also, have a woeful Endowment with Aviva, which was supposed to provide £60K at the end of 2020 - but will probably be closer to £30K! Currently still paying £101 per month into that.
Any advice very welcome!
Current Mortgage : 5.84% Fixed Until July 2011
£1,449 Repayment per month.
Thinking about buying myself out of current deal with Santander and going with 10 year fix from Yorkshire BS.
Would cost @ £6K to get out....but doubt I will still be able to get 4.99% l10 year fix next summer....any thoughts / advice?
Whatever standard monthly repayments are I plan overpay so that total monthly payment is £2K.
Also, have a woeful Endowment with Aviva, which was supposed to provide £60K at the end of 2020 - but will probably be closer to £30K! Currently still paying £101 per month into that.
Any advice very welcome!
0
Comments
-
well you fixed rate ends in 8 months, no way would i be spending 6k bying myself out of that. Just my opinion but I cannot see interest rates going anywhere in the near future so personally I would not be in a rush. Santanders current SVR is 4.24% so I would see out my deal then review in 8 ish months. What is your ltv???MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
0 -
Thanks LilacPixie.
LTV 59%....0 -
TBH in that case i would definatly stick where i was meantime. There is a calculator thingy on the mortgages homes tab up to for you to compare specificsMF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards