Ok, very large (for a consumer) mortgage, currently in year 2 of a 3 year fix at 6.4% with a 2% get out.
Tracker deals currently sit at 2.29%+base, with a booking fee of about a grand, on a 3 year tie in.
The 2% penalty plus booking fee would in theory be recouped by month 10, plus the new product has much better overpayment facilities.
What do we think is happening with the BOE base at the moment? The last thing i would claim to be is any form of expert in the financial world. From what i can see as a n00b it looks as though the low rates are here for a good while yet.
Good idea in theory if i can find the 2%, but it would be nice to get others' opinions on the matter
Tracker deals currently sit at 2.29%+base, with a booking fee of about a grand, on a 3 year tie in.
The 2% penalty plus booking fee would in theory be recouped by month 10, plus the new product has much better overpayment facilities.
What do we think is happening with the BOE base at the moment? The last thing i would claim to be is any form of expert in the financial world. From what i can see as a n00b it looks as though the low rates are here for a good while yet.
Good idea in theory if i can find the 2%, but it would be nice to get others' opinions on the matter