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Remortgae Advice
mattyj1085
Posts: 1 Newbie
Just after a bit of advise, im currently on a 5 year fixed deal with ybs thats expiring end of March.
Property Value - 185k
I will owe end of March - 70k
LTV - 38%
I've seen First Direct are doing some good deals but I can't get my head around what is the best deal to go for as they have deals on lower rates with fees or slightly higher with no fees.
I'm currently overpaying @ £750 a month as my 5 year fixed was @ 3%.
Is it better to take a shorter term and pay higher monthly payments or a longer term and overpay? It doesnt look like there are any overpay limits unless you clear the balance with FD.
Or another option take a longer term and save the different between the monthly payment and £750 in a seperate savings account so I have a backup fund that can then be paid as a lump sum at the end of the fixed period?
Property Value - 185k
I will owe end of March - 70k
LTV - 38%
I've seen First Direct are doing some good deals but I can't get my head around what is the best deal to go for as they have deals on lower rates with fees or slightly higher with no fees.
I'm currently overpaying @ £750 a month as my 5 year fixed was @ 3%.
Is it better to take a shorter term and pay higher monthly payments or a longer term and overpay? It doesnt look like there are any overpay limits unless you clear the balance with FD.
Or another option take a longer term and save the different between the monthly payment and £750 in a seperate savings account so I have a backup fund that can then be paid as a lump sum at the end of the fixed period?
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