Advice Needed Please

sexy_fufu

Hi,

Im interested in the FD offset fixed mortgage can anyone tell me would i be better doing this

Taking out 52k over 15 years which results in the repayments £414.53

Or

Taking out 52K over 19 Years Repayments are £372.22 and then overpaying £40 per month.

Which would be more beneficial for self.

Thanks for anyone who responds to this message.

dpesky

Dear Sexy fufu (lol - love the name and I know the meaning!) Ask FD to provide you with two KFI's (quotes) showing the different scenarios you have asked. You will then have your answer.... The choice will be do you want to be committed to a higher payment per month with FD or have a bit more freedom with the overpayments knowing that they can be stopped at any time if you suddenly choose to whisk a loved one away somewhere exotic and expensive!

Owner of a Nationwide Mortgage Brokerage and features writer for UK mortgage magazines

This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.