Be Excellent To Each Other

I have 2 separate lumps of money that make up our mortgage, one fixed for 10 one fixed for 5.

Was looking to change providers as the rates aren't bad, but I could save around £300 a month over 5 years on other deals, but would maybe have to pay £3,000 to close the 5 year one down early.

Bit worried now that as my wife is getting laid off I will be screwed on moving as the loan was based on both of us earning.

I could have made plans last year but that would have cost me another £2-3000, the get out payments drop a fair bit when the terms get to the last year and the 10 year one has only a year to run now

Anyone know how this would work? I'm not asking for any more money just want to move what we have to a better deal?

I usually give London and Country a ring for mortgage advice:

http://www.lcplc.co.uk/

The last couple of times I have phoned them they have just advised us to stay with our current provider, so they seem pretty decent.

Ok thanks for that will give them a call

I had a call with my mortgage lender today (The Leeds)

I have what they call 2 products making up my borrowing, the first is a 5 year fixed that runs out next month, the 2nd is a 10 year fixed that ends November 2016

So I wanted to understand the cost of moving to variable rate on the 5 year, its £30 a month more so no issue (the fixed rates I have aren't brilliant @4.7)

So then I asked him for a repayment figure if I moved everything to a 10 year fixed @3.34 on their site

He told me that I couldn't have that deal as its for new business only and that I would have to pay 4.7%

So a mutual gives worse deals to its members than none members?!

Some fucking off elsewhere January when the I can get out of the 10 year deal early with the least cost

Only good news was that for borrowing purposes I have 40% in the house so at least meet the criteria for the better deals

Yeah, you should be much better off once you take the lot elsewhere. Don't be surprised if the current lender decides you are eligible for a much better deal just before the deadline though. I think the early shite offer is just to ensnare the gullible.

Yeah, when our deal runs out we might switch if we don't move...



..because going early will cost five large. Oh....