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Early Remortgage
andy7614
Posts: 1 Newbie
Hi,
Given the increases that we're seeing in Bank of England Base Rate this year, I'm considering locking in a 5 year deal now and paying an early repayment charge, rather than waiting until December when we can re-mortgage without fees. I know all calculators will advise against this as we're currently on 1.14% mortgage and would be moving to 2.09% but are we going to see more Base Rate increases over the coming months? I fear what the mortgage rates will look like at the end of this year and am considering taking a small hit now rather than an even higher interest rate later this year.
Interested in peoples thoughts on this.
Thanks
Given the increases that we're seeing in Bank of England Base Rate this year, I'm considering locking in a 5 year deal now and paying an early repayment charge, rather than waiting until December when we can re-mortgage without fees. I know all calculators will advise against this as we're currently on 1.14% mortgage and would be moving to 2.09% but are we going to see more Base Rate increases over the coming months? I fear what the mortgage rates will look like at the end of this year and am considering taking a small hit now rather than an even higher interest rate later this year.
Interested in peoples thoughts on this.
Thanks
0
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