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Remortgage or not?
SBD90
Posts: 32 Forumite
Hi, I am in the process of looking for a new house, mine is on the market but so far there have been no offers.
My current initial deal on my mortgage is about to come to an end, and when it goes onto the SVR my payments will be going up slightly. I've had a look and I could remortgage with Nationwide, paying no set up or valuation fees, the early repayment charge is not applicable, and I would reduce my monthly payments by over £100, also on a much shorter term. I think the legals are included when remortgaging too.
Do you think it would be worth it? Bearing in mind I could be moving in 3 months or in a years time?
When it says early repayment charge not applicable does it actually mean you don't pay a penny other than the £65 exit fee? Do their legals cover everything as well?
Thanks
My current initial deal on my mortgage is about to come to an end, and when it goes onto the SVR my payments will be going up slightly. I've had a look and I could remortgage with Nationwide, paying no set up or valuation fees, the early repayment charge is not applicable, and I would reduce my monthly payments by over £100, also on a much shorter term. I think the legals are included when remortgaging too.
Do you think it would be worth it? Bearing in mind I could be moving in 3 months or in a years time?
When it says early repayment charge not applicable does it actually mean you don't pay a penny other than the £65 exit fee? Do their legals cover everything as well?
Thanks
0
Comments
-
Why not ask your lender exactly what is/is not covered?
Given house-buying can take 3 months or 3 years, if the remortgage costs are negligible I would consider.
Don't ask, don't get.0
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