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Mortgage - should I switch??
Swampy3k
Posts: 187 Forumite
Hi there. I got approved for a mortgage of 70,000 back in Oct 2011. In Apr 2014 I moved my mortgage via a mortgage advisor believe it or not to the same company but on a better deal (currently 3.14% whereas before it was 4.5%ish) as it currently stands I have £55,412 left outstanding and I am wondering after seeing all these adverts on TV etc am I better switching now and fixing into another deal while interest rates are low. and what is the best way to go about finding out if I will incur a exit fee etc?.
bit of a rookie at this and seeing as it's a big sum I don't want to see it go wrong. any help is appreciated. Thanks.
bit of a rookie at this and seeing as it's a big sum I don't want to see it go wrong. any help is appreciated. Thanks.
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Comments
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Difficult to say without knowing a lot more about your situation and the product you are on.
Can the previous mortgage adviser not point you in the right direction again?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.0 -
Well mortgage rates have dropped since April 2014 and many EXPERTS said they would go up along with the BOE base rate (WRONG)
However you need to read the mortgage paperwork to see what deal you are now on if there are any Exit fees0
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