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Mortgage Renewal Time Soon
RicherRi
Posts: 3 Newbie
My fixed rate mortgage is coming to an end soon and I am unsure which type to renew it with. Everytime I go into Barclays they try and get me to book an appointment to find out about their mortgage which takes into account all your savings and current account and any interest is taken off your mortgage. The thing is I only have about 2k in savings and my income is about 2k per month and that is all spent on outgoings so would I benefit from something like that or finding an ordinary fixed rate mortgage again. Currently with Santander. Mortgage approx £115,000 repayment and monthly payments £668. Any tips please would be appreciated
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Comments
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You don't have to do anything if the follow on rate is good.
whats yours.
Offsetting won't save you much
whats your LTV, and income?0 -
Hi my house is worth about £230,000. Yes I did wonder about just leaving it when it goes back to non fixed, need to look up my rate as I cannot remember off hand. Thanks for you comment0
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Talk to lenders, talk to independent brokers. Get a feel for what's out there and what might suit you best.
If you're confident you know what you're doing, think about going direct to a lender without advice. If you aren't sure and want advice, use one of the independents you have an initial consultation with.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Sort of in the same boat myself. Currently on a Halifax 5.79% deal which ends at the end of June. Will move onto the SVR + base (currently 3.50 + 0.50) then but wondering if I should fix again.
Property currently £115K with 20 years left and O/S balance of just under £60K. Having missed out on the low rates these past 3 years, I don't want to find myself getting hit again if rates rise soon. Not entirely happy with the advice I got from my indie advisor last time, so I'd like to consider finding my own product this time.0 -
Mmmmm food for thought thank you I shall have to do some homework then0
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