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What do I do?
laudo
Posts: 144 Forumite
1st of all, I am self employed and am coming up to the end of my 5year tie-in with the Abbey. It was a 25year mortgage and I have been overpaying and reduced the term to 12yr8mths now.
Now that the 5year tie-in is up I called the Abbey to see what they have to offer now. Not too impressed - best is 6.75% fixed for 10years, or 6.8% fixed for 5years. Discounted rate is currently at 6.99%.
Now, for simplicity, I would like to stay with Abbey (self employed and less grief/stress) what should I do? I am tempted with the 10year fixed as I will know what I am paying, and if i can i will chip away by paying £500 off here and there (10% of balance allowed each year) Anyway my target is to be mortgage free in 10years time.
Anyone with any "advice"
Many thanks.
Now that the 5year tie-in is up I called the Abbey to see what they have to offer now. Not too impressed - best is 6.75% fixed for 10years, or 6.8% fixed for 5years. Discounted rate is currently at 6.99%.
Now, for simplicity, I would like to stay with Abbey (self employed and less grief/stress) what should I do? I am tempted with the 10year fixed as I will know what I am paying, and if i can i will chip away by paying £500 off here and there (10% of balance allowed each year) Anyway my target is to be mortgage free in 10years time.
Anyone with any "advice"
Many thanks.
0
Comments
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Anybody please?0
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Hi I suggest you go to virginmoney one account if you have extra cash one mth to pay more or one mth you just pay your min fee0
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I think you should at least look at what else may be on offer
Re-mortgaging can be straightforward, and may turn up better deals than those offered by Abbey
Just a thoughtI am a Mortgage AdviserYou 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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