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remortgaging, potential change in circumstances
sunshine2291
Posts: 1 Newbie
My 2 year fixed rate is coming to an end so I'm looking into remortgaging to increase payments decrease the term and decrease the interest rate.
My circumstances are likely to change within the next 2 years - I'd like to think I'd be sharing a home with my partner in 2 years time, if that's the case the most likely scenario would be for us to rent out my flat.
If I'm looking at 2 year fixed rate deals would I be penalised for making any changes to my mortgage in those 2 years?
Thanks
My circumstances are likely to change within the next 2 years - I'd like to think I'd be sharing a home with my partner in 2 years time, if that's the case the most likely scenario would be for us to rent out my flat.
If I'm looking at 2 year fixed rate deals would I be penalised for making any changes to my mortgage in those 2 years?
Thanks
0
Comments
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Typically a two year fixed rate will have early repayment penalties for anything you overpay in excess of a fixed amount, probably 10% of the outstanding loan, during the fixed rate period.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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