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remortgage

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Hi people need advice on a mortgage which as about 19000 pounds left on it I had a fixed rate but as finished my dilemma is that I can't get another lender to offer me a lower rate as they are saying … Read More
dizylizy08 Avatar
8m, 2d agoPosted 8 months, 2 days ago
Hi people need advice on a mortgage which as about 19000 pounds left on it I had a fixed rate but as finished my dilemma is that I can't get another lender to offer me a lower rate as they are saying it's very low amount any good rate company out there who won't charge to much to change over thank you
dizylizy08 Avatar
8m, 2d agoPosted 8 months, 2 days ago
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Responses/page:
#1
What is your current rate and estimated term remaining.

What term are you expecting to move too.
#2
Try asking London and Country for advice. It's a big brokerage and it's free to ask advice. Found them good in the past.
https://www.landc.co.uk
banned#3
rcwmeg
What is your current rate and estimated term remaining.

As above....

If you are on a standard variable rate now its should be 2.0-3.0%

The only way you are going to lower your payments is by extending the term?
#4
Loan?
#5
Or if you plan on paying it off over the next year/two years you could go down the route of a 0% credit card as there are deals that allow up to 24 months interest free. However just a warning please only think of this if you definitely want to pay it off over 2 years as after that the APR would go up usually to around 10-20% sometimes more
#6
We are also in the process of doing a re mortgage after a 10 year fixed rate that is due to finish this month. We will owe slightly more then you and looking to pay it off within 5 years. Lloyds have offered us a 2 year fixed rate at 2.11% APR (2.80% APRC) with no fees. After 2 years it will return to the standard rate but have been told we could fix again if required.
#7
Probably unlikely to get amount required on a credit card.
#8
Hi the current rate is 4.00%
Product type is standard variable
Repayment method is Capitol and interest thanks hope this helps looking to pay off 400 a month
#9
are you sure its that high? ive been locked into a 4yr fix of 3.49% for the last few years and when im due to come off next month, i go onto a neglible increase... which will allow me to make crazy overpayments before i then lock into a better fix/ tracker. you'll be lucky to get anyone to buy into 19grand to be honest.. but as advised above, give London and Country a call/ request a call from their website. they've helped me prioritise how i go about my next mortgage endeavours and its all free :-)
#10
As 'peroxidase' has suggested, could you go down the loan route?
Loans are available around 3.4% so borrow £19,000, pay £380 a month and you'll pay it off in 4.5 years.
#11
A lot of mortgage company's wont lend less than £25k. Also something to consider is setup costs. Chances are you will save very little by remortgaging at this point when fees have been taken into consideration. As others have suggested. You may be better off bouncing money round 0% credit cards. Can you pay 10% of the capitol off your mortgage per year without penalties? Is the mortgage in one or two peoples name?
banned#12
dizylizy08
Hi the current rate is 4.00%
Product type is standard variable
Repayment method is Capitol and interest thanks hope this helps looking to pay off 400 a month

You can switch to lloyds with no fee for about 2.50-3.00

You are nuts. We have 25k left & paying £230 with 14 years left spread over 2 accounts.

You have less & could get it down to £180 easy

Just look for yourself

Edited By: YouDontWantToKnow on Sep 21, 2016 13:40
#13
Caulcano
As 'peroxidase' has suggested, could you go down the loan route?
Loans are available around 3.4% so borrow £19,000, pay £380 a month and you'll pay it off in 4.5 years.

not sure why the loan route is getting voted down, as above fits in with your repayment model and will have almost no set up costs / fees. Easy to maintain and easy / free to repay additional lump sums or take repayment holidays.
#14
Mortgage is in wife's name (as they would expect)

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