📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Should I take his advice?

Curtis_Lester
Curtis_Lester Posts: 2 Newbie
in Mortgages & endowments
I took a 4 year fixed mortgage from Butler Mortgage at Ontario . The mortgage period is almost coming to an end. When I bought the property its value was valued at $ 92,000. I the mortgage was for $75,000. Now I have to pay around $67,000. I am looking for new deals now. My friend advised me to take a mortgage renewal for the rest of the amount ( $67000 ). He asked me to speak to my mortgage broker to arrange for a mortgage before 6 months of my expiry date on my existing mortgage. He says that by doing so I need not have to be on the banks variable rate for a couple of months when the next mortgage is build up after the expiry date. Should I take his advice?

Comments

  • ACG
    ACG Posts: 24,634 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    This is a UK website.
    I 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.
  • amnblog
    amnblog Posts: 12,741 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    A bit of a worry
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.3K Work, Benefits & Business
  • 599.4K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture