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Remortaging???
berriman78
Posts: 1 Newbie
For 2 years I have had a fixed rate mortgage with NR which ends on 1st june 08, then its moves to a flexy. With the rate it will be for the flexy I have found it is something I could afford but leaves me with nothing for other situations. I am now looking for a long term fixed rate and found that NR can not compete with other lenders. But they seem to have a small print saying that if I moved mortgages to another lender, that I would owe them near to £2000 plus other fees. Then obviously I would have the fees for the new lender to pay aswell!Any advise on this would be appreciated.
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Comments
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I think you need to explain "flexy". Do you mean the standard variable rate or is it one of those fix and track products that they did?
What exact fees are involved?
What size mortgage are you looking at?
What is the value of your property?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. 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.0 -
I suggest that you look at your original NR offer and any Keyfacts illustration that was issued originally by NR to ascertain the redemption figures, as it would appear that you have an overhang penalty on your existing mortgageI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. 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.0
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