Most fixed , discounted and tracker deals will require you to pay exit fees if you remortgage before the term of the product has come to an end. You can either do nothing and pay the higher SVR rate or, depending on your circumstances, you could remortgage to a new deal. Those that want to remortgage to a cheaper deal should approach their existing lender about better rates three to four months before their current deal ends.
I took out a five year fixed mortgage at 4. Would you switch your mortgage mid- term if you could save money? Here is what you need to know before you decide.
Type of deal: There are several mortgage types available, such as fixed rate, trackers and discounted. If the fixed -rate period on your mortgage is about to end , you have two. I am getting now ( the rate will actually be higher when the fixed ends ) will cost me . Remortgage During Fixed Term - Same Lender Mortgages. End of fixed term on mortgage -what next? By remortgaging with a new lender you can switch to a lower fixed rate.
In the two examples below you can see how the size and remaining term of. If you change your mortgage before the end of your deal you might have to pay a.