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  • Cheers all, what I kind of expected but glad it wasn't just me.

    My broker has told me that if I go for the 5 year I can still apply for a subsequent advance so I need to work out how that works.

  • You basically take out a mortgage type product on top of your current mortgage. As the term is long (probably same as your current mortgage) and the amount is quite low the repayments won't be that high.
    You can roll them all into one product when you subsequently remortgage.

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