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Advice on remortgaging....
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kibbler
Posts: 1 Newbie
Hi there, we just want some advice on whether we should come out of our 5 yr fixed....
We are 2yrs 3months into a 5 yr fixed @ 3.65% with Nationwide. Been doing the full 10% overpayments each year and LTV is now around 44%. We can pay more per month and have money to overpay another lump sum too (aswell as doing home improvements) but have used the 10% overpayment and cant overpay until Nov 2017.
House Value is around £140,000 and we need to borrow about £61,000.
We really want to get a better rate right now but we have worked out that after paying the ERC (around £2400) and getting the best 3 year fixed around 1.94% with no fee it just about breaks even, and doesnt seem worth it. Are we about right or are we missing something? Any advice appreciated, thanks Dean
We are 2yrs 3months into a 5 yr fixed @ 3.65% with Nationwide. Been doing the full 10% overpayments each year and LTV is now around 44%. We can pay more per month and have money to overpay another lump sum too (aswell as doing home improvements) but have used the 10% overpayment and cant overpay until Nov 2017.
House Value is around £140,000 and we need to borrow about £61,000.
We really want to get a better rate right now but we have worked out that after paying the ERC (around £2400) and getting the best 3 year fixed around 1.94% with no fee it just about breaks even, and doesnt seem worth it. Are we about right or are we missing something? Any advice appreciated, thanks Dean
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