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Time to remortgage?
daf1999
Posts: 4 Newbie
We've been with Bluestone (due to previous credit issue) for a year (on a 2year fix) at an eye watering 6.2%.
The annual statement has come and the redemption figure for today is nearly £4k.
Credit issue now sorted and rating should be ok, is it worth remortgaging now or waiting until the end of the 2yr fix? I think we'd save over 4k in the reduced payment a reasonable mortgage rate would be over a year, that's the calculation we need to consider isn't it?
TIA
0
Comments
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Do you intend to borrow the redemption fee?0
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Yeah we would have to at the moment. It takes us back up to the original mortgage amount, meaning we've paid a year of mortgage for nothing but it will free up a fair bit of money each month too.0
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