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Variable Tracker or Fixed? 2 or 5 yrs?
Taff
Posts: 60 Forumite
About to take out additional borrowing with C&G approx 53k and port my existing borrowing at 0.59% above BR (for duration).
I am confused which option to take for the additional borrowing and any info or thoughts on this would be greatly appreciated.
The plan would be to make over payments £200 per mth to reduce the 25yr term.
Cheers
I am confused which option to take for the additional borrowing and any info or thoughts on this would be greatly appreciated.
The plan would be to make over payments £200 per mth to reduce the 25yr term.
Cheers
0
Comments
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With the low interest rate that you are porting. Unlikely that that you will remortgage in the foreseeable future. So I would opt for a 5 year fix.
What product fees are payable on the fixes you are considering.0 -
Cheers
3.390% for a 2 yr Fix then HVR
3.790% for a 5 yr Fix then HVR
Both the above have no product fee but a mortgage account fee of £265 (added to borrowing) and an upgront valuation fee of £300.0 -
In many ways a personal decision. Interest rates are going to rise back up again in the future that's a certainty. When who knows.0
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