Hi there,
Was just wondering what we should consider in regards to the following
We are exiting our fixed term mortgage this time next year. We are currently paying 4.85% interest and will revert to ebs variable rate of around 3.5%. By then our mortgage will be around 110000. I have been told by my parents that they will gift us around 20000 to pay down the mortgage further.
As we will have a low mortgage compared to our house value (currently around 400k) should we wait to look for a switcher mortgage until all this has happened? Or should I start looking for one toward the end of the year?
Was just wondering what we should consider in regards to the following
We are exiting our fixed term mortgage this time next year. We are currently paying 4.85% interest and will revert to ebs variable rate of around 3.5%. By then our mortgage will be around 110000. I have been told by my parents that they will gift us around 20000 to pay down the mortgage further.
As we will have a low mortgage compared to our house value (currently around 400k) should we wait to look for a switcher mortgage until all this has happened? Or should I start looking for one toward the end of the year?