mortage

jed_the_lurcher

Hi can someone help.My 2 years fixed price of4.75 is now up.To be honest i have not got a clue what to do now.My payments have gone up 50 pounds.The new interest rate is 7.94 .I have heard about re mortages.but will i have to start again the 25 years.please help as i always make the wrong moves

homer_j_3

depending on the size of your mortgage, it may be difficult to remortgage and make it worth your while.

You do not have to extend to 25 yrs again, you can take the mortgage for same term or look to reduce further if you can afford to.

Lipstick_2

jed_the_lurcher wrote: »

Hi can someone help.My 2 years fixed price of4.75 is now up.To be honest i have not got a clue what to do now.My payments have gone up 50 pounds.The new interest rate is 7.94 .I have heard about re mortages.but will i have to start again the 25 years.please help as i always make the wrong moves

Ask your current lender for a new deal or look for a fee free remortgage deal.

What size is your current mortgage?

mrsmoneypenny9

If you dont want to remortgage, see what your current provider has to offer, I have been with ybs for the last 9 years and I have never paid the standard rate, I just get a new product offer when my current one is due to expire, this way i dont have to have a new valuation and its really easy to do.