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Natwest ERC
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geordiepaul2001
Posts: 318 Forumite
Hi all,
I am currently considering ditching my 5.99% fixed rate mortgage and switching to a better mortgage deal.
I currently have 17 months left on my fixed rate and my early repayment charge before May is 2% and 1 before May 2014.
By my calculations this is £1600 and £800.
I have had a quick look online and there is a Tesco mortgage available at 2.99% - saving me £2700 over 17 months (remaining term of my current fixed rate) including product fee, land fee, valuation etc.
Natwest currently have a deal on a 2 year fix at 3.79% with no fees.
Am I looking at this the right way?, as it all seems to easy to switch and save hundreds/thousands.
Paul
I am currently considering ditching my 5.99% fixed rate mortgage and switching to a better mortgage deal.
I currently have 17 months left on my fixed rate and my early repayment charge before May is 2% and 1 before May 2014.
By my calculations this is £1600 and £800.
I have had a quick look online and there is a Tesco mortgage available at 2.99% - saving me £2700 over 17 months (remaining term of my current fixed rate) including product fee, land fee, valuation etc.
Natwest currently have a deal on a 2 year fix at 3.79% with no fees.
Am I looking at this the right way?, as it all seems to easy to switch and save hundreds/thousands.
Paul
June 2016 - Pair of Brooks Glycerin 14's
July 2016 - Annual family pass to English Heritage
August 2016 - overnight spa break with dinner and breakfast for two
September - BBQ toolbox
July 2016 - Annual family pass to English Heritage
August 2016 - overnight spa break with dinner and breakfast for two
September - BBQ toolbox
0
Comments
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Yes, use the ditch you fix calculator on here.
I'm ditching my Santander fix at 4.99% to HSBC's 1.99%. If you have 40% equity (bear in mind your house will revalued) then see if you can get that deal.I'm a qualified accountant but please make sure you get expert advice as any opinion is made in a private capacity.
"A goal without a plan is just a wish" Antoine de Saint-Exupery
Mortgage overpay 2012: £10,815; 2013: £27,562
Mortgage start £264k, now £232k0
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