Which type of mortgage would be best for me?

EliasThorne

Hi all,

Like many I too had seen the One Account mortgage shrinker and thought it looked good butt now I'm not sure having looked through some of the threads here

I have two mortgages

1) 34K Which is fixed at about 4.6% but is about to return to based rate (in April)
2) 16K around 5.8% fixed with 4+ years to run - there's a pretty heavy get out fee

We have 3K in the current account but with a new house & baby and my wife having left work to look after her I see that now as a more of a buffer buffer.

What advice could you offer?

Many thanks,

Elias...

homer_j_3

The one account is expensive and needs good financial management.

There are better options out there, however, as you are tied in for another 4 years, I would suggest that you see if your current lender will offer you another rate which will be more beneficial so you can keep your 16k on the product that its on.