Remortgage 30/40k

PierremontQuaker03

Hi All, I paid off my mortgage about three years ago and now I am looking to redo the kitchen and conservatory and need about 30/40k - I am probably going to go with 30k. 30k is too high for me for a personal loan in terms of committing to monthly payments so I am thinking about getting a mortgage. The house is worth about 280k and I'm 49 years old. I am thinking of getting a 3 years fixed deal over 15 years and within that period I will pay off the max per year (usually 10%) to pay off the mortgage as soon as possible, so in another 3 years the mortgage I need to do will be 20k etc etc. Does this sound like the best option?

lfc321

Yes - sounds like a good plan.

ACG

Take a look at the rates of 2 and 5 year deals too. 
There are not as many 3 year fixed rates on the market, that can mean the rates are higher than the 2 and 5 year deals. You might find it cheaper to go with a different fixed term due to the extra competition.