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    • Giddypip
    • By Giddypip 8th May 18, 6:17 PM
    • 76Posts
    • 68Thanks
    Remortgage or not?
    • #1
    • 8th May 18, 6:17 PM
    Remortgage or not? 8th May 18 at 6:17 PM

    I am considering remortgaging early and would appreciate any input.

    Current mortgage due to run till 31/0/2019 at 3.99%, as of April this year 74,958 owed. 2% ERC if repayed before October this year then 1%.

    I've been looking at the remortgage calculator on here and have seen a 5 year fixed for 1.89% with a 490 set up fee (no other fees).

    I have a loan with 7,380 left to pay as of April at 6.6%.

    My mortgage payments should be 443.32 per month but I pay 550.

    I calculate that I would have to pay an ERC of 1,499.16 if I pay the mortgage off now.

    My house is worth approx 130,000 and I would want to remortgage for 90,00 to pay off the current mortgage, loan and have a couple of thousand for some decorating.

    Do the figures stack up? Would I be saving money?

    If you need any more information please just ask.

    Many thanks in advance xx
Page 1
    • dimbo61
    • By dimbo61 8th May 18, 6:36 PM
    • 10,183 Posts
    • 5,509 Thanks
    • #2
    • 8th May 18, 6:36 PM
    • #2
    • 8th May 18, 6:36 PM
    The figures may stack up but will a lender offer you the mortgage you want might be a better question
    • Giddypip
    • By Giddypip 12th May 18, 9:17 AM
    • 76 Posts
    • 68 Thanks
    • #3
    • 12th May 18, 9:17 AM
    • #3
    • 12th May 18, 9:17 AM

    any other opinions
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