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Last few months of mortgage
Biggles
Posts: 8,209 Forumite
Our 2-year discounted rate finishes on 31 May; we'll then have just nine months left, but the monthly repayments will go up by £60 when we go onto the standard variable rate for those nine months. Our existing lender says they only do 2-year deals, so if we went for one of those, we'd get a redemption penalty when the mortgage finished.
Would any other lender take us on for a nine month deal of any kind?
Would any other lender take us on for a nine month deal of any kind?
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Comments
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Well the Woolwich does a tracker but check with the costs involved in moving your mortgage to another lender. You would have to pay exit fees etc your present lender and the new lender would charge you fees for survey, solicitor and the amount might be so small that it really is not worth it.
As you only have 9 months left I would stay where you are and overpay as much as possible to reduce the amount and maybe pay off in 6 months?0
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