Mortgage advise
Discussion
I'd welcome a bit of mortgage advise if possible.
We are almost 2 years into our 3 year fixed term mortgage. We're in the fortunate position that our house has increased significantly in value, putting us almost in the 40%LTV bracket.
When I spoke to my IFA a little while back the numbers looked like I would be saving around £500 a month when I remortgage if I'm in the 25LTV or 40LTV brackets.
First question: Should I pay penalty to finish mortgage early to get better rate now? (logic seems to say yes, just wondering if I'm missing anything)
Second question: If I can get a much better rate on a tracker should I explore this route, if it all goes tits up with interest rates then I can always bail out and go fixed - although I don't see them going up too much?!?
We are almost 2 years into our 3 year fixed term mortgage. We're in the fortunate position that our house has increased significantly in value, putting us almost in the 40%LTV bracket.
When I spoke to my IFA a little while back the numbers looked like I would be saving around £500 a month when I remortgage if I'm in the 25LTV or 40LTV brackets.
First question: Should I pay penalty to finish mortgage early to get better rate now? (logic seems to say yes, just wondering if I'm missing anything)
Second question: If I can get a much better rate on a tracker should I explore this route, if it all goes tits up with interest rates then I can always bail out and go fixed - although I don't see them going up too much?!?
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