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remortgage deals
princeperch
Posts: 33 Forumite
Currently undertaking a mortgage application with the yorkshire, 75pc LTV fixed at 3.04pc for 3 years. if it values up to what I have stated is the market value - happy days.
if it doesnt value up, then we will need to look at 80pc LTV mortgages which shouldnt be a problem.
the choice there appears to be:
2.99pc tracker for 2 years - the fees are ok
or
3.49 lifetime tracker - the fees are ok (and we can obviously jump ship if rates do go up)
I have spoken to a couple of mates in the know and they say the base rate wont be going up in the next 2 years, but if it does it will only be by .50p anyway. on that basis I am leaning towards the 2.99pc for 2 years.
we can afford increases in the repayments if required but would like to make the right call.
if I go for the 2 year deal, am I likely to get my fingers burnt?
when we remortgage in 2 yrs time we should have a 40pc deposit.
we will have moved within 3 years (or so) and will keep the flat on a btl mortgage as an investment.
this might be academic if I get a call tomorrow to say its valued up, but that application was a bit of a risk/punt.
thoughts?
if it doesnt value up, then we will need to look at 80pc LTV mortgages which shouldnt be a problem.
the choice there appears to be:
2.99pc tracker for 2 years - the fees are ok
or
3.49 lifetime tracker - the fees are ok (and we can obviously jump ship if rates do go up)
I have spoken to a couple of mates in the know and they say the base rate wont be going up in the next 2 years, but if it does it will only be by .50p anyway. on that basis I am leaning towards the 2.99pc for 2 years.
we can afford increases in the repayments if required but would like to make the right call.
if I go for the 2 year deal, am I likely to get my fingers burnt?
when we remortgage in 2 yrs time we should have a 40pc deposit.
we will have moved within 3 years (or so) and will keep the flat on a btl mortgage as an investment.
this might be academic if I get a call tomorrow to say its valued up, but that application was a bit of a risk/punt.
thoughts?
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