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Remortgage, HSBC or Coventry
Goodtimes_3
Posts: 2 Newbie
Help!
I can get a 5.73% 5 year fixed rate mortgage with the HSBC, this will allow me to make a 20% overpayment per month. This mortgage is subject to a £499 set up fee. Or I can get a 6.29% 5 year fixed rate mortgage with the Coventry, this will allow a 5% overpayment per year and has no set up fee. I can afford the 20% with the HSBC and are pretty certain I would be able to make the 5% with the Coventry. Which would offer the best offer?
Many Thanks Goodtimes
I can get a 5.73% 5 year fixed rate mortgage with the HSBC, this will allow me to make a 20% overpayment per month. This mortgage is subject to a £499 set up fee. Or I can get a 6.29% 5 year fixed rate mortgage with the Coventry, this will allow a 5% overpayment per year and has no set up fee. I can afford the 20% with the HSBC and are pretty certain I would be able to make the 5% with the Coventry. Which would offer the best offer?
Many Thanks Goodtimes
0
Comments
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The HSBC deal will only allow you to overpay 1,146 a year on a 100k mortgage whereas Coventry will allow 5,000. Guess it depends how much you can and wish to overpay.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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does depend on how much you are borrowing , and if overpayment levels would be exceeded- could you have a better home for this money until ERC period runs outAny posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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