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joao3v16 on "Dumb Mortgage Question"

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...penalties and charges will far outweigh any savings you will make over the next 8 months from your new mortgage...

Yeh, I'll check the details when I get home.

About 18 months left on my current mortgage deal, paying £640 per month, outstanding balance around £90k.

If there's (for example) a 3% penalty, that's £2700.

So to make it worth my while I'd need to find a mortgage deal with payments of <£490/mth to give me any financial benefit.

I'll have a look around, just to see...


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