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Shared Ownership product switch
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Marina2016
Posts: 45 Forumite
We currently own 50% of a Shared Ownership property and our mortgage interest rate is 3.19% fixed until December. Our current bank can offer us a product switch to another 2 year fixed deal at 1.89%. Is this a good rate for shared ownership?
Our LTV is around 73% for our share. Not looking for a longer fix as we may want to move after the 2 year period.
Our LTV is around 73% for our share. Not looking for a longer fix as we may want to move after the 2 year period.
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Comments
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Does anyone know if this is a good deal?0
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1.89% sounds good to me for product switch
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Sounds like a great deal. Shared ownership rates tend to be higher then standard mortgage rates but it sounds great and depending on the size of your mortgage could reduce your payments by quite a bit. Ask them what their standard variable rate is as this may be even cheaper0
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