-
I think you can remortgage a bit early often too (if staying with the same provider) - if memory serves then there was a few months leeway - so it may be I can gradually bring them in line and end up with a single mortgage in one place.
Depends on the mortgage proivider, but remember that they do this in order to keep you as a customer as to go anywhere else would incur an ERC. Somewhere else might have a better deal but you'd need to stay in the current deal for an extra 3 months or pay a significant chunk (more than you'd save probably) to get out of it.
Mind you, I went from 5.09% to 2.89% to 1.94% for my 5-year fixeds, all with the same mortgage provider (Santander), so going 3 months early did save a reasonable chunk of cash each time. That coupled with not having to go through conveyancing or any finance/affordability questions each time has been a definite bonus. Each time I did it in one 20 minute call.
You are reading a single comment by @Greenbank and its replies.
Click here to read the full conversation.
Greenbank
I had the same, so I currently have about 2.5yrs left on one mortgage, and 5 years on the other. Both with First Direct.
If the timescales end up sorting themselves out then I'll combine them.
I think you can remortgage a bit early often too (if staying with the same provider) - if memory serves then there was a few months leeway - so it may be I can gradually bring them in line and end up with a single mortgage in one place.
But the early redemption cost was a few thousand so it was worth staying.