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Mortgage ending but selling flat
wallacewilliams
Posts: 31 Forumite
Hello all,
The mortgage on my flat is coming to an end soon when it will go to the standard variable rate (SVR).
It's currently 3.69% and the SVR for Santander is 4.74% and I have £39,500 oustanding.
Using an online calculator it works out that my monthly repayments would go up by about £20 a month.
My house is currently on the market, so I'm wondering if I should just let it slip into the SVR so that I'm not tied in to any particular product when (and if!) it sells.
My early repayment charge is £1200 and arrangement fees for other mortgages seem to be around the £1000 mark. It'd take me a fair while of paying the extra £20 a month to justify these extra costs of moving...
Many thanks in advance,
W
The mortgage on my flat is coming to an end soon when it will go to the standard variable rate (SVR).
It's currently 3.69% and the SVR for Santander is 4.74% and I have £39,500 oustanding.
Using an online calculator it works out that my monthly repayments would go up by about £20 a month.
My house is currently on the market, so I'm wondering if I should just let it slip into the SVR so that I'm not tied in to any particular product when (and if!) it sells.
My early repayment charge is £1200 and arrangement fees for other mortgages seem to be around the £1000 mark. It'd take me a fair while of paying the extra £20 a month to justify these extra costs of moving...
Many thanks in advance,
W
0
Comments
-
Your mortgage isnt ending. Your fixed rate is ending.
Just leave it on the SVR if you are selling in the near future0
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