Information Required Please

groovyold1

Hi I have an outstanding mortgage of 197k over 19 years worked between two mortgages (repayment)
1. 4.99% fixed until 31 July 2011 (larger loan (110k )
2. 4.55% fixed until 30th September 2010 ( 87k)

I am looking to pay off a large chunk on the above mortgage of approximately £40-45,000k through the sale of a buy to let property that I own.

I am wondering whether the easy way is to pay off the 45k straight away from the 4.99% or to do this in some other way to benefit me in the long run.

Any information would be really gratefully received.

Many Thanks:

confused:

lardy2

hi
you should check with your lender that there is no penalties to pay.
and also you should ask them if it will be deducted now or as the case is with some lenders that it will not be deducted until the 31st dec. if it will not be deducted until 31st dec then you are better of leaving it in your account until december and you will receive the interest