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Mortgage Advise Please
notts6501
Posts: 4 Newbie
I currently have an approx £100K mortgage (£80K interest only £20K repayment) with Britannia.
I am currently on a fixed rate that is due to end in June 08.
I have 4 endowments are due to mature in 2011, 2012 & 2013. The bigger endowments are performing OK. A copule of the others will fall short but i should be able to make the difference up with savings.
At the end of June this year i was wondering what the best way to proceed was. I was thinking of trying to get another 3yr fixed rate to take me to 2011.
Someone suggested go for a 5yr one to 2013, bank the endowment payments and pay off in one lump some at the end.
I have look at some mortgage deals and if the rate is good then ther is a massive set up cost of over £1000.
Can anyone advice on the best way to proceed and the best deals out there.
regards,
Dave
I am currently on a fixed rate that is due to end in June 08.
I have 4 endowments are due to mature in 2011, 2012 & 2013. The bigger endowments are performing OK. A copule of the others will fall short but i should be able to make the difference up with savings.
At the end of June this year i was wondering what the best way to proceed was. I was thinking of trying to get another 3yr fixed rate to take me to 2011.
Someone suggested go for a 5yr one to 2013, bank the endowment payments and pay off in one lump some at the end.
I have look at some mortgage deals and if the rate is good then ther is a massive set up cost of over £1000.
Can anyone advice on the best way to proceed and the best deals out there.
regards,
Dave
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