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Remortgaging - advice
hughmungas1986
Posts: 154 Forumite
My current 2 year deal finishes in December this year. My current balance is around £55000.
I am looking to pay off around £10000 from the remaining balance of the mortgage when the deal finishes and then remortgage for around £45000.
I am looking to remortgage the amount over a ten year period, or less, and pay around £500 a month and overpay by 10% each year. Don't really want to have more than a 2 / 3 year deal.
Just looking for some ideas on what would be the best mortgage to look at, tracker, fixed etc.
Great site by the way
Hughmungas
I am looking to pay off around £10000 from the remaining balance of the mortgage when the deal finishes and then remortgage for around £45000.
I am looking to remortgage the amount over a ten year period, or less, and pay around £500 a month and overpay by 10% each year. Don't really want to have more than a 2 / 3 year deal.
Just looking for some ideas on what would be the best mortgage to look at, tracker, fixed etc.
Great site by the way
Hughmungas
Mortgage :- Jan 2008 £56000, August 2012 £ 0
Target :- 1 Apr 2010 £20000... ACHIEVED
Whiskey bottle £279 banked. Mortgage Pikachu £2 + 50p £1920 banked
Mortgage Free In Three No. 113
Mortgage free date, 30 July 2012 :j:beer:
Target :- 1 Apr 2010 £20000... ACHIEVED
Whiskey bottle £279 banked. Mortgage Pikachu £2 + 50p £1920 banked
Mortgage Free In Three No. 113
Mortgage free date, 30 July 2012 :j:beer:
0
Comments
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At that kind of borroiwng amount a fee free lifetime tracker re-mortgage deal may be a good option.
They have no penalties to leave at any time, allow unlimited overpayments, and also save you the re-mortgage costs every 2/3 yearsI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thats for that, I will look around to see what deal's are about
HughmungasMortgage :- Jan 2008 £56000, August 2012 £ 0
Target :- 1 Apr 2010 £20000... ACHIEVED
Whiskey bottle £279 banked. Mortgage Pikachu £2 + 50p £1920 banked
Mortgage Free In Three No. 113
Mortgage free date, 30 July 2012 :j:beer:0
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