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Any disadvantage of reducing the number of mortgages.
Mr_Gas
Posts: 4 Newbie
I have 3 mortgages. The 2 year deal on one of which ends soonish. When doing that I could borrow enough to clear one of the mortgages leaving me with 2. My thinking the being less mortgages I have, the less arrangement fees to pay every 2 years.
Are there any disadvantages in doing so?
Are there any disadvantages in doing so?
0
Comments
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Depending on the amounts you owe fee free options may be a better option. No disadvantage to combining. Though you don't want to incur ERC's in the process. When do the other 2 loans terms end.0
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There would be and ERC on the one I could loose. Only 0.5% but need to do the maths!
Its good to know that there is no disadvantage to combining mortgages in principle.0
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