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Remortgage or buy a new place
KJayGla19
Posts: 1 Newbie
Hi, I will seek FA closer to when my mortgage is due to renewal but reading a lot about remortgage I still struggle to understand what's what and what's better.
Our mortgage is due for renewal in Jan 2024, but we also want to move to a bigger place. And I was wondering if it makes sense to try and buy a new place (and sell our current flat) this year, before the renewal or wait until next year and sell/buy?
Our mortgage is due for renewal in Jan 2024, but we also want to move to a bigger place. And I was wondering if it makes sense to try and buy a new place (and sell our current flat) this year, before the renewal or wait until next year and sell/buy?
0
Comments
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Well I am guessing you will have ERC,s to pay if you move before the 5 year fix ends ?
Will it be a bigger, better more expensive property ?
Will you need to borrow more money ?0 -
Depends if you can port your mortgage or not and if not the amount of ERC you will have to payMFW 2026 #5007/03/25: Mortgage: £67,000.00
Mortgage:
04/04/26: £33,500
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000
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