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Fixed term due to end on January 31 2008
katherinef1974
Posts: 50 Forumite
As above really and I need to find a new deal my current two year fix coming to an end in January 2008
I am with Skipton at the moment and my mortgage balance is £60,500 but I want to extend my lending to cover some improvements to the house, to a total of £5,000
In the light of recent events wondering if at this time increasing mortgage borrowing is the right thing to do. Nor am I even sure what deal to look for, I would ideally want another fixed term deal and I was thinking about a five year fix this time.
Additionally because of the fact I am going to ask for additional borrowing the Skipton fees will be hefty - the five year product fee is £599 then on top of that fees for additional borrowing so I was thinking a remortgage eg going to another lender would be best - seen a five year deal I like at Brittannia £399 administration fee, conveyancing paid inc disbursements, 6.14% fix for five years taking my monthly payments from £341 to £395 (which is comfortably affordable)
I know no one can predict and that of late people have been opting for tracker rates in the belief rates will drop but I don't feel comfortable about this.
Thoughts anyone?
I am with Skipton at the moment and my mortgage balance is £60,500 but I want to extend my lending to cover some improvements to the house, to a total of £5,000
In the light of recent events wondering if at this time increasing mortgage borrowing is the right thing to do. Nor am I even sure what deal to look for, I would ideally want another fixed term deal and I was thinking about a five year fix this time.
Additionally because of the fact I am going to ask for additional borrowing the Skipton fees will be hefty - the five year product fee is £599 then on top of that fees for additional borrowing so I was thinking a remortgage eg going to another lender would be best - seen a five year deal I like at Brittannia £399 administration fee, conveyancing paid inc disbursements, 6.14% fix for five years taking my monthly payments from £341 to £395 (which is comfortably affordable)
I know no one can predict and that of late people have been opting for tracker rates in the belief rates will drop but I don't feel comfortable about this.
Thoughts anyone?
0
Comments
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there is also the exit fee from current lender - currently £1250
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