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switching mortgage deals
antoniomontana
Posts: 209 Forumite
im currently with BM and my discounted 2 year rate will be up soon, meaning i'll have to start paying a higher rate.
I've had a letter from BM offering me the opportunity to switch to another mortgage that will work out cheaper, just wondering if there are any catches in switching deals?!
I've had a letter from BM offering me the opportunity to switch to another mortgage that will work out cheaper, just wondering if there are any catches in switching deals?!
0
Comments
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Read all the literature regarding the new deal.
Look for arrangement fees, booking fees, term of the deal, overpayment facility, product portability, redemption penalties, etc. etc.
Yes, it's complicated, isn't it.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
Why don't you shop around to see if you can get a better deal. Some people are better than others at sourcing their own mortgage, but if you are unsure use a whole of market mortgage brokerI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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