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RBS Mortgage
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graham_kerr
Posts: 1 Newbie
Hi we are just over 2 years into a 5 year fixed rate mortgage @ 5% interest. I have asked RBS about changing the contract as I feel as first time buyers we were persuaded into this as " interest rates can only rise" They say I would need to pay 5K to get out of the contract. Any advise is welcome
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graham_kerr wrote: »Hi we are just over 2 years into a 5 year fixed rate mortgage @ 5% interest. I have asked RBS about changing the contract as I feel as first time buyers we were persuaded into this as " interest rates can only rise" They say I would need to pay 5K to get out of the contract. Any advise is welcome
Pay the Early Repayment Fee and choose another product if the numbers work in your favour.
You would of made an informed choice 2 years ago based on all the facts at the time, they where correct back then as they are now, interest rates can only rise, for me I do not think they will and if they do it will be by tiny amounts.
Good luck0 -
I am sticking to yr fixed and keep dropping ltv until comfortable and then fix at 5 yrs or earlier if interest rates rise0
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