22 myths left on mortgage

Copey14

Hi everyone. Need some advice please. We have 2 years left on our mortgage and are locked in on a fixed rate till March 17 at 2.49% which in turn will leave us with 22 months left on our mortgage with Santander. They do not do any deals with a mortgage under 2 years so we will go on the standard rate of 4.49%, Any advice on what to do please?

worried_jim

TSB bank loan for 2.8% and clear the mortgage or get a 0% credit card and pay it off.

zagubov

You may want to re-mortgage with a fix but need to spread it over 5 years or no other lender will look at you.
Or ask what retention products Santander have in place you can transfer to. We come off our fix with our bank and can transfer to another product with three years left on our mortgage.

kingstreet

Fee-free remortgage to a new lender onto a two year tracker with no ERCs over a longer term and pay enough each month to repay the mortgage after 22 months.

Fee-free = costs you nowt

New lender = your own won't offer this

No ERCs = no charge for paying more than you should

22 months = no extra interest to pay.

You're welcome...

Boredatwrork

How much do you still owe, the suggestions here are good, but can probably be whittled down to 1 or 2 if we knew what the balance was left to pay.

foxy-stoat

Copey14 wrote: »

Hi everyone. Need some advice please. We have 2 years left on our mortgage and are locked in on a fixed rate till March 17 at 2.49% which in turn will leave us with 22 months left on our mortgage with Santander. They do not do any deals with a mortgage under 2 years so we will go on the standard rate of 4.49%, Any advice on what to do please?

Whats your balance - must be small. You could make over payments - 22 months @ 4.49% cant be that bad if theres only a small balance to pay - cant be talking about more than double figures in interest a month.