renewing fixed rate morgage

beecher

julieanne13 wrote: »

clever people on here will be laughing thei heads off at how stupid i am - and i dont blame them - but being stupid should not mean i have to keep paying dose it?

That's not at all true - please don't think that. You're not stupid at all - just been badly advised. The whole world of mortgages is a nightmare, but this forum is a good one for getting advice so please don't worry about it.

You need to work out if it will cost you more over the term if you fix at a lower rate with no fee. Adding the fee to the mortgage won't be a problem though.Try to post back tomorrow with the information C&G give you, and try not to be so hard on yourself

julieanne13

thanks beecher :-) will get all the info tomorrow take care julie

Gorgeous_George

Sounds like you owe £30,773 on repayment over 16 years at 4.99%. You might even have a split repayment/interest only mortgage.

If it is £30,773 the good news is that your increase would be quite modest (paying £288 if your SVR junmps to 7%).

What happened to the endowment policy(ies)?

Do not panic at the news. You seem to be in a good financial position mortgage-wise. Deep breaths and watch the soaps.

Please post again when you have more up-to-date info.

GG