Bank mortgage advisors

tony3619

If you speak to a bank mortgage advisor in branch to arrange a new fixed rate do they charge? 

K_S

tony3619 said:

If you speak to a bank mortgage advisor in branch to arrange a new fixed rate do they charge? 

@tony3619 I've never heard of a lender charging an advice fee for direct applicants.

The product that you are applying for may or may not come with a lender product fee.

tony3619

K_S said:

tony3619 said:

If you speak to a bank mortgage advisor in branch to arrange a new fixed rate do they charge? 

@tony3619 I've never heard of a lender charging an advice fee for direct applicants.

The product that you are applying for may or may not come with a lender product fee.

Thanks for the answer. 

My current deal ends May 2023 and I'm on 1.69%. 

Assuming when my deal ends and fixed rates are about 9% it makes my repayment £613 on a mortgage of £75900 (roughly) 

If I pay my £768 ERC and get a mortgage of 5.39% this makes it £440 a month. 

I did £613 x 24 months = £14712 Vs £440 x 24 (2 year fix) months + £768 ERC = £11328. So it's beneficial to jump on a new fix now.

Is this correct or would I need to factor in the money i lose on my current fix into the equation?