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Early Exit From Mortgage

MartinD485
MartinD485 Posts: 1 Newbie
in Mortgages & endowments
Hi All,

Is it worth considering moving mortgage deals halfway through current deal?

Comments

  • Yorkie1
    Yorkie1 Posts: 12,493 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Assuming you refer to a product with an early exit fee, it depends on the figures involved.

    If you want specific comments, post up the the amount of your mortgage outstanding, your interest rate, how much longer the tie-in period is, the product you're thinking of moving to (including interest rate and application fee).
  • dunstonh
    dunstonh Posts: 120,960 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Is it worth considering moving mortgage deals halfway through current deal?

    Depends on the outcome of cost/benefit analysis you carry out. If the costs of exit, entry into new deal (and perhaps those exit costs depending on how long that deal is compared to the existing one and how they are charged) can be recovered within the term of the new deal then it can be worth considering.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    MartinD485 wrote: »
    Hi All,

    Is it worth considering moving mortgage deals halfway through current deal?

    How is anyone supposed to comment without knowing any figures at all?
This discussion has been closed.
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