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If you are wondering whether to pay your ERC and remortgage now - please read this.
Seraphi
Posts: 42 Forumite
There are various individual factors that people have such as the length of their mortgage term, current interest rate and loan amount.
There is a tool that takes all of this into account and provides an estimate of whether you would be better off after 5 years: https://app.nous.co/refix
You have the option of changing the interest rate predictions to a more optimistic or pessimistic outlook for sensitivity analysis.
After this the choice comes down to your personal risk tolerance. Only you will best know how you might feel if you made a decision with the information you had in 2022 and it turned out to be wrong in 2024.
There is a tool that takes all of this into account and provides an estimate of whether you would be better off after 5 years: https://app.nous.co/refix
You have the option of changing the interest rate predictions to a more optimistic or pessimistic outlook for sensitivity analysis.
After this the choice comes down to your personal risk tolerance. Only you will best know how you might feel if you made a decision with the information you had in 2022 and it turned out to be wrong in 2024.
3
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