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remortgage fixed 2 year
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SHEILA54
Posts: 1,829 Forumite


Hi
I have until July 2018 to pay on my mortgage and am going to come to the end of my fix in a few months with HSBC.
I am paying £960 per month and have a 3.99% mortgage but am 64.
Is there a better deal out there for me, in view of my age? If there is a 3 year fix then, by the time it comes through, there would only be a few months left at a higher rate or I could try to save to make overpayments to shorten the time.
To be honest, it will mean that I can stop working and that would be a blessing as my health isn't so good.
Thanks
I have until July 2018 to pay on my mortgage and am going to come to the end of my fix in a few months with HSBC.
I am paying £960 per month and have a 3.99% mortgage but am 64.
Is there a better deal out there for me, in view of my age? If there is a 3 year fix then, by the time it comes through, there would only be a few months left at a higher rate or I could try to save to make overpayments to shorten the time.
To be honest, it will mean that I can stop working and that would be a blessing as my health isn't so good.
Thanks
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Comments
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Since you have such a short length of time left, you might take a gamble on interest rates and go for a tracker instead. You should certainly be able to beat 3.99% as they start at 1.99% for own customers.0
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I think you have answered most of your own questions. Book an appointment with the Mortgage advisor and see what they can offer.
I did something similar with Nationwide last week. Got 1.79% tracker over 3 years, No fees. Overpay as much as I want...No ties, so I could switch and fix at any time. Seemed pretty good.
Why not speak to HSBC, see what their 2 year fixed rate is and reduce you mortgage period to 2 years from 2.5. I presume you have lots of equity and still have a good salary?NO to pasty tax We won!!!! Just shows that people power works! Don't be apathetic to your cause!0 -
Mortgage is around £29100 if you went to zero interests you would save £1600.
if that 1.99% rate I available payment would drop to £935 and the interest would be £800 so saving £800 over the live of the mortgage.0 -
I got it wrong as it is until July 2018 and the fix changes in 2016. Duh!! Just tired I guess.
I have a very healthy equity and my income is stable so, other than my age, it shouldn't be a problem.
I do have early redemption fees though and am not sure if these would apply if I changed mortgage with HSBC?
Otherwise it seems that Nat West has the best 3 year fix.
Do you think that mortgage rates will rise much in the next few years?0 -
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