We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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!
Can / Should I switch my mortgage?
Options
widders
Posts: 10 Forumite
Hello! This is my first post here 
My husband and I have a mortgage with Halifax for our flat which was our first time buy.
The balance of the mortgage is currently around £128000 and has an interest rate of 3.99%
Our monthly repayments are £586 a month and the remaining full term is 32 years and 6 months.
Our original fixed rate deal expired at the end of last summer, so I understand we can switch to a new deal now which may save us money but I am clueless as to how to start looking/choosing..
As an additional issue are currently living abroad for a few years and renting the flat out, with consent to lease from Halifax which has so far been cost free but which we must reapply for annually. Because of this perhaps we are better off switching to another offer from Halifax as another bank may make us switch the mortgage to consent to lease.
We will return back to the UK in summer 2017 or 2018 depending on our jobs and at this point move back into the flat. Do you think that taking a new fixed rate deal for a few years until we return is a good idea?
Any help would be hugely appreciated
My husband and I have a mortgage with Halifax for our flat which was our first time buy.
The balance of the mortgage is currently around £128000 and has an interest rate of 3.99%
Our monthly repayments are £586 a month and the remaining full term is 32 years and 6 months.
Our original fixed rate deal expired at the end of last summer, so I understand we can switch to a new deal now which may save us money but I am clueless as to how to start looking/choosing..
As an additional issue are currently living abroad for a few years and renting the flat out, with consent to lease from Halifax which has so far been cost free but which we must reapply for annually. Because of this perhaps we are better off switching to another offer from Halifax as another bank may make us switch the mortgage to consent to lease.
We will return back to the UK in summer 2017 or 2018 depending on our jobs and at this point move back into the flat. Do you think that taking a new fixed rate deal for a few years until we return is a good idea?
Any help would be hugely appreciated
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards