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ditch my (yet to start) fixed!!!! £1620 potential saving
lkmc01
Posts: 967 Forumite
Hi
I am to take up nationwides mortgage next month of 4.89% on LTV 75% on a 85k house. This we paid £400 for as a mortgage arrangement fee and £99 product fee. Its 4.89%, £369.6 a month for 5 years.
But, just looked now and a simliar product has now dropped to 4.14% with the same costs. It could save me £27 a month, per month for 5 years, so £1620!!!
What shall I do?
Oh, and we are not accepted with yorkshire building society.
I am to take up nationwides mortgage next month of 4.89% on LTV 75% on a 85k house. This we paid £400 for as a mortgage arrangement fee and £99 product fee. Its 4.89%, £369.6 a month for 5 years.
But, just looked now and a simliar product has now dropped to 4.14% with the same costs. It could save me £27 a month, per month for 5 years, so £1620!!!
What shall I do?
Oh, and we are not accepted with yorkshire building society.
0
Comments
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Ask them if you can change, and if so at what cost?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
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you have this thread listed twice??Hi
I am to take up nationwides mortgage next month of 4.89% on LTV 75% on a 85k house. This we paid £400 for as a mortgage arrangement fee and £99 product fee. Its 4.89%, £369.6 a month for 5 years.
But, just looked now and a simliar product has now dropped to 4.14% with the same costs. It could save me £27 a month, per month for 5 years, so £1620!!!
What shall I do?
Oh, and we are not accepted with yorkshire building society.0 -
It really isn't helpful to start two threads on an identical issue
https://forums.moneysavingexpert.com/discussion/33354100 -
Sorry I just thought I could have done the title a bit better, didn't think it would be a problem0
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Just for future interest for anyone else, it turns out that I have been able to get a refund on my previously paid product fee of £400 and have then paid this for a new product. I did not get my £99 arragement fee back (it was non-refundable) and have had to pay this again for a new product. So I am no longer to take up the 4.89% 5 year rate, but the 4.14% 5 year rate. In switching it will cost me £99, but I save £26.01 compared between 4.89% and 4.14% each month for 5 years, so a savings of £1560.60. Its with nationwide.
Think I've done the best thing.0
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