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Moving house and mortgage
Bikeman12
Posts: 1 Newbie
Currently had a offer accepted on a house and unsure what route to take on the mortage.
Our current mortage can be ported over to our new house, £200, and remain on the same rate of 3.79 till June 2017. we currently owe £109000 and will go over to the variable rate. We need to take another £12000 which will be on a separate rate of 2.85 for 2 years then to the standard variable rate.
Or do we
Pay off the current mortgage, pay the early repayment charge of £1090, which will be added to the mortgage and take the £122090 at 2.85 for 2 years Then back standard variable rate.
Both for 25 years, really not sure which route is the best to take?
Any help much my appricted to which is the better and cheaper overal option to take?
Our current mortage can be ported over to our new house, £200, and remain on the same rate of 3.79 till June 2017. we currently owe £109000 and will go over to the variable rate. We need to take another £12000 which will be on a separate rate of 2.85 for 2 years then to the standard variable rate.
Or do we
Pay off the current mortgage, pay the early repayment charge of £1090, which will be added to the mortgage and take the £122090 at 2.85 for 2 years Then back standard variable rate.
Both for 25 years, really not sure which route is the best to take?
Any help much my appricted to which is the better and cheaper overal option to take?
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