Do I switch??

mindyourlanguage

Hello all

I currently have 83K outstanding on my mortgage. My current rate is 2.5% and pay £462.37 which I top up to total £1200.

I worked out with the extra I top up the term will reduce to about 6.5 years depending on the rates as the mortgage is variable.

Would it be worth me re-mortgaging to a lower rate as their are product fees?

Thanks

dimbo61

I take it your not in a fix rate deal.
If you are hoping to clear the mortgage in 5 /6 years will you save money by paying a fee ?
You have the flexability to overpay ( BIG STYLE) at the moment or stop if things change.
If you use " whatsthecost" you maybe able to work out if you can save money by taking a " Cheaper deal" which is fixed for 3/4/5 years