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Leave on SVR or Re-mortgage?
Farmerbob
Posts: 234 Forumite
Hi There,
Im giving myself a headache trying to decide when my mortgage goes on to SVR the end of this month whether to leave it or look at a fixed or tracker deal?
While a chance to go on a lower rate would be in most cases good the fee to re-mort has gone from £199 to £499 (RBS) so im not sure if it would be worth the drop in interest to get charged the fee as i'll be adding it to the mortgage, or just stay where I am and just pay extra? (im currently rounding my payments up to £450 a month to clear the balance down)
I currently have £41575 outstanding, with the 50k valuation with a 18y term on C&I and will be going on to RBS's SVR of 4%. The 2 possible deals are 3.49% 2y Fix or 3.09 tracker (2.59% over BR) 2y both have the £499 fee.
When you are comparing deals how do you work out what is the best deal over the 2 years?
Thanks in advance
Im giving myself a headache trying to decide when my mortgage goes on to SVR the end of this month whether to leave it or look at a fixed or tracker deal?
While a chance to go on a lower rate would be in most cases good the fee to re-mort has gone from £199 to £499 (RBS) so im not sure if it would be worth the drop in interest to get charged the fee as i'll be adding it to the mortgage, or just stay where I am and just pay extra? (im currently rounding my payments up to £450 a month to clear the balance down)
I currently have £41575 outstanding, with the 50k valuation with a 18y term on C&I and will be going on to RBS's SVR of 4%. The 2 possible deals are 3.49% 2y Fix or 3.09 tracker (2.59% over BR) 2y both have the £499 fee.
When you are comparing deals how do you work out what is the best deal over the 2 years?
Thanks in advance
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