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ING Direct
crr33
Posts: 2 Newbie
Sorry to bother everyone, but I am looking for some 'experts' advice.
I am just about finished a five year fixed mortgage term and I am looking to re-mortgage my family home.
I have trawled the net and the best deal that I can find, (not that that says much !) is a fixed 2 year deal with ING Direct.
My house is worth something like £185000, and my outstandng mortage is £70,000.
In addition to this outstanding amount, I want to borrow £25,00 against the equity to complete the renovation. Thus I intend to borrow £95,000 over thirteen years.
(MY masterpaln is to re-negotiate evry two or so years, reducing my mortgage term each tiem so the total is paid off in 7 or 8 years !).
Is a ING Direct 2 year fixed loan of 4.95 % a good bet ? (Especially seeing as how I haven't heard of this bank).
I would seriously welcome any comments about my plan
Ta
A very nervous and novice moneysaver
I am just about finished a five year fixed mortgage term and I am looking to re-mortgage my family home.
I have trawled the net and the best deal that I can find, (not that that says much !) is a fixed 2 year deal with ING Direct.
My house is worth something like £185000, and my outstandng mortage is £70,000.
In addition to this outstanding amount, I want to borrow £25,00 against the equity to complete the renovation. Thus I intend to borrow £95,000 over thirteen years.
(MY masterpaln is to re-negotiate evry two or so years, reducing my mortgage term each tiem so the total is paid off in 7 or 8 years !).
Is a ING Direct 2 year fixed loan of 4.95 % a good bet ? (Especially seeing as how I haven't heard of this bank).
I would seriously welcome any comments about my plan
Ta
A very nervous and novice moneysaver
0
Comments
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Why not go for a 5 year fixed rate? You can then save on the re-mortgage costs
Just an ideaI am a Mortgage AdviserYou 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.0 -
Check out the other threads on ING here on this board for more info.0
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