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BTL mortgage quiery
Gam2015
Posts: 168 Forumite
My current 2 year fixed BTL mortgage comes to an end 31st december so i will be then on a variable rate of 4.84% isit worth changing mortgages with arrangement fees etc being so high?
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Comments
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There are deals with no or low arrangement fees.
As to which is best, it would depend on the loan amount really.I 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 -
When i looked on afew comparison sites most was nearly 2k might be worth seeing an independent mortgage advisor again. Cheers0
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The maths depend on course on your mortgage size.
Remember of course that any mortgage fee should be tax deductible.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 -
Ask the broker to see what difference the fee makes over the term of the mortgage assuming you add it rather than pay up front. Then compare...
As others have said, mortgages are out there without fees so just get yourself a decent broker and have them do the work for you.Interested in property investment, web tech, social media, forex, equities. Also a proud father & entrepreneur of sorts.0 -
Thanks for your replys0
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As others have said, mortgages are out there without fees so just get yourself a decent broker and have them do the work for you.
BTL mortgages without product fees are some 9% of the market, products with no fees and no re-mortgage costs are just 4% of the market.
This compares with 24% and 12% in the residential market.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
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