Tracker Mortgages

Lemmy_2

I'm currently coming to the end of a discounted mortgage that I have with the Furness. It's discounted to the BOE base rate until December this year, and then it jumps to 1% above for the life of the mortgage. The balance is around 72K.

As there are no tie-ins with the product, I'm wondering if it would be worth moving over to another product; does anyone have advice as to the best rates around at the moment? When I changed over to this mortgage, there were a few deals with no arrangement / legals fees that were BOE base rate or below, but there doesn't seem to be as many now.

Mortgageman

....until December this year,

Now is a pretty good time to start looking, 3 months should give you plenty of time to get soemthign set up so you don't have to apy the mroe expensive SVR

I'm wondering if it would be worth moving over to another product

Maybe, you'll need to ablance any costs of moving with the costs of staying where you are (or switching to another deal with the Furness)

When I changed over to this mortgage, there were a few deals with no arrangement / legals fees that were BOE base rate or below, but there doesn't seem to be as many now.

there aren't as many - but don't forget you are not trying to do better than BOE, you are trying to do better than BOE + 1.0% (which is what you will be paying from Jan).

As ever, Martins articles on remortgaging and mortgage brokers are a good place to start.

MM