Switching Mortgage Advice

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UnaS

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I had my mortgage fixed for 5yrs... this endson friday 23rd may. I heard that if you switch your mortgage you could save money?

Is it a good idea to switch?

Is there alot of paper work involved?

As i need to have something sorted for THIS friday... i dont think i would have enought time to sort the switch out.
Would you recommend FIXED or Variable.... at the moment by current lender is quoting me a varialbe rate which is HIGHER than the fixed rate he gave me!
 
UnaS said:
I had my mortgage fixed for 5yrs... this endson friday 23rd may. I heard that if you switch your mortgage you could save money?

Is it a good idea to switch?
Click to expand...
If the potential savings outweigh the costs (if any) of switching then of course it is.
As i need to have something sorted for THIS friday... i dont think i would have enought time to sort the switch out.
Click to expand...
Are you sure that you need to do it by then? Surely you can just go onto your existing lender's best tracker/variable rate for the moment and make a decision at your leisure?
Would you recommend FIXED or Variable.... at the moment by current lender is quoting me a varialbe rate which is HIGHER than the fixed rate he gave me!
Click to expand...
There are innumerable existing threads on the whole fixed versus variable/tracker rate question. Do a search or browse for them. What rate is on offer right now? What is your house worth and how much is outstanding on it? Who is your lender?
 
What is the mortgage amount? What is the property worth? What is the rate your lender has offered you? J
 
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