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Should I lock in?
But given the rates, my monthly repayment will go up...with my current % repayment of 1- something percent, it will be £50 more for example.
Of course I could transport the deal, but it may obviously not be the right deal for a new property...of course, I may be stuck with that deal for only 12-18 months...or could cancel and pay hefty early redemption...
So, should I risk and fix in for 2 years or go for SVR and aim to speed up the searching and saving for a new place?
Comments
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@moneymadlol You could consider a product switch (same lender) or remortgage (new lender) to an ERC free tracker so there's nothing stopping you from getting the best deal when it's time to buy in the coming year.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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guess this post is still relevant.
https://forums.moneysavingexpert.com/discussion/6239644/increase-borrowing-guarantor#latest
Who is you lender now?0 -
Nationwide, they have been for 6 years0
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@monaymadlol You're in luck in that case. They have a very good range of no-ERC trackers across multiple LTV bands that you could potentially consider for a product switch.monaymadlol said:Nationwide, they have been for 6 yearsI am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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Is tracker same as SVR?K_S said:
@monaymadlol You're in luck in that case. They have a very good range of no-ERC trackers across multiple LTV bands that you could potentially consider for a product switch.monaymadlol said:Nationwide, they have been for 6 years0 -
monaymadlol said:
Is tracker same as SVR?K_S said:
@monaymadlol You're in luck in that case. They have a very good range of no-ERC trackers across multiple LTV bands that you could potentially consider for a product switch.monaymadlol said:Nationwide, they have been for 6 years@monaymadlol No. Here's a random example of one from among the many tracker products that Nationwide offers for product switchers https://www.nationwide.co.uk/products/mortgages/our-mortgages/mortgage-ratesA no-fee no-ERC tracker at a competitive rate may sound too good to be true, but it is indeed an option offered by Nationwide.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
3
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