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Mortgage Question
sarge123
Posts: 65 Forumite
So I am overdue a remortgage (i know i should have done it sooner but just never got around to it).
Current mortgage details;
£141k. I currently pay £620 @ 2.5% SVR over 26 years with the TSB.
My property is valued £285,000 on ZOOPLA.
I wish to borrow £150,000 (extra for home improvements).
All examples are from the LandC website.
2 year fixed - 1.39% then 4.25%. £573 a month
or
5 year fixed - 1.83% then 4.74%. £605 a month
As far as i can see these payments include any arrangement fees.
Would i better off with the 2 year fixed and overpaying up to what i currently pay, or go with the safe 5 year fixed?
Thankyou in advance for any advice etc.
Sarge
Current mortgage details;
£141k. I currently pay £620 @ 2.5% SVR over 26 years with the TSB.
My property is valued £285,000 on ZOOPLA.
I wish to borrow £150,000 (extra for home improvements).
All examples are from the LandC website.
2 year fixed - 1.39% then 4.25%. £573 a month
or
5 year fixed - 1.83% then 4.74%. £605 a month
As far as i can see these payments include any arrangement fees.
Would i better off with the 2 year fixed and overpaying up to what i currently pay, or go with the safe 5 year fixed?
Thankyou in advance for any advice etc.
Sarge
0
Comments
-
Choose whatever your comfortable with really - depends on what you think is going to happen to the interest rates that are being offered and if you are looking on moving any time soon.0
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