Mortgage Advice

Spies

I'm currently 3 years into paying off my 26 year £77000 mortgage at an LTV of 51%.

My current mortgage is with NatWest which is 5 year fixed at 3.09%, each year that passes the penalty drops by 1%. If I was to move my mortgage at this stage my penalty would be 2% of my outstanding balance (£1400).

With new mortgage presumably comes setup fees and a revaluation, are there any providers which don't have setup fees but still have a good rate if interest?

Or should I just wait until Jan 2019 when I can leave my current provider penalty free?

ACG

Most remortgages come with free valuations and legals or free val and cashback. I did a mortgage for a lady recently where it came with £250 cashback and we were able to get the solciitors for £200. So the client moved lenders for no fees, better rate and £50 in her bank.

You just need to look for the product that best suits your requirements. There would probably need to be some savings each month though as £1400 on a £77k mortgage is quite a lot to try and save over 2 years.