Hi there
I originally purchased my house with a partner. Since then my personal circumstances have changed and approx 2 years ago I bought my partner out of the house.
At the time my partner insisted on getting the current market value for the property, so I had to reapply for a mortgage on my own.
I received one mortgage offer from the Ulster Bank with a 5 year fixed rate of 5.1%. I have recently approached the bank about maybe breaking the five year fixed rate etc and giving me a better rate, but they insisted that they must charge the penalty of approx 6,500.
I have spoken to a few people who have told me to shop around for a new mortgage, and that banks are keen for business so they might throw in the penalty fee into the mortgage amount, or that there may be some other way around it?
Has anyone any experience of this? or any advice?
Thank you
Newbie!