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First Post, Be Gentle With Me
We're in the fortunate position of being on target to pay off our mortgage in just under 4 years. The amount outstanding at the end of last year was £17.5k. Unfortunately as a result of bad financial advise in the late 80's we converted our original repayment mortgage to an intrest only/endowment. This is has been sorted now and we are back on a repayment but as we had such a short time left it was only converting the intrest only mortgage to an SVR. The SVR is now 7.39% which when reading through the intrest rates available for fixed term loans seems a lot. My question is should I leave things as they are or look into taking out a cheap loan to pay off the mortgage? Probably a stupid question with an obvious answer but I don't know what it is.
TIA
TIA
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Comments
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I don't think you will be able to get the best deals as the minimum seem to be for at least £25k and you will pay a hefty arrangement fee on top.0
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