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Ditch the fix....For a fix! ??

Currently 5 years into a 10 year fix with nationwide
5.34% ERC of £2791
balance of ££91770 House worth approx 165000 (hopefully!)
with all the new deals about would it worth swapping ? Ive tried the calculator and it says find a deal with interest rate under 4.6%
I would really like to stay fixed for all the reasons we took the fix in the first place ! Ive found fixes with lower interest rates but I think ive just confused myself ! How do I go about paying the erc if I take out another morgage can I add it on to the new one?

Comments

  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes you can borrow more to pay off the ERC and also any other charges for setting up another deal with another lender as Nationwide will not give you another deal ( you have to move lender!!!)
    Is it worth doing this is another matter
    Some 2.75%/2.99% five year fixes on the market COOP, YBS etc
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