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remortgaging to 2 yr tracker deal
moneysavinggirl40
Posts: 435 Forumite
My REMORTGAGING scenario
With current provider, I can switch deal and their new offer for a 2 year product is at 1.64% (inc BBR) on £143000 with product fee of £995. if I remortgage then theres a 2 year product at 1.59%(inc BBR) with product fee of £195. Total amount to repay is then £171000. so when/ if i decide to remortgage at the end of that deal my outstanding balance will be around 140000 near enough my original remortgaging amount I am starting with now. Is there any point in changing providers if the balance is only cleared by 3000 or so at the end of 2 years?
With current provider, I can switch deal and their new offer for a 2 year product is at 1.64% (inc BBR) on £143000 with product fee of £995. if I remortgage then theres a 2 year product at 1.59%(inc BBR) with product fee of £195. Total amount to repay is then £171000. so when/ if i decide to remortgage at the end of that deal my outstanding balance will be around 140000 near enough my original remortgaging amount I am starting with now. Is there any point in changing providers if the balance is only cleared by 3000 or so at the end of 2 years?
0
Comments
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Please read your post!!!
What do you owe £143,000 or £171,000 ?0 -
so current deal carrying on with same provider but just switching is £143000 but when you remortgage although you borrow £143000 they say in the illustration you will owe them £171000 over all. so my question is after 2 years which deal is better?0
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