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Mortgage Advice - To Switch or To Not Switch

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Good Morning,

We are looking for a bit of advice if possible. Currently we are on a Tracker Mortgage with Barclays at 2.49% and also we have a reserve mortgage at 6.28% that runs along side the main mortgage. We owe approx £44,000 on the main mortgage and £7000 on the reserve. Our payments each month are £382 for the main mortgage and we pay £100 per month for the reserve. We have recently started over paying £100 per month on the main mortgage (so £482 total) which we hopefully can increase in the next few months.

Do you think it would be a good idea to remortgage both onto a new rate with the way things are going at the moment?

Best mortgage we can find is with First Direct - 3.28% - fixed for 5 years at a cost of £470 per month with a £490 booking fee.

Hope that makes sense and any advice would be greatly received.

Thank you.

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