Advice on remortgaging

cool_dude_2000

Yes that's right. The fact that rates will only ever go up is what's motivating me to make the overpayments to settle it early. But I don't want to take out a 15 year incase circumstances change and I might not be able to pay that much or I need the extra cash.

Perhaps a compromises 20 year term as suggested is the answer.

Thrugelmir

cool_dude_2000 wrote: »

Perhaps a compromises 20 year term as suggested is the answer.

Very much a personal decision. Use one of the online calculators to determine what level of interest rate you would be comfortable with. That in turn will provide you with the mortgage term.

dimbo61

Sounds like an offset mortgage would suit your needs.
Paying a ( normal ) mortgage every month but also building up savings in the offset account each month.
You are saving interest and paying the mortgage off quicker while also having access to your savings if you need to buy that new TV, replace the car etc

cool_dude_2000

I never even considered offset mortgages! Thanks very much.