Quick question regarding remortgaging - or not...

My flexible tracker discount deal with Abbey comes to an end soon (Sept) and
I've been paying it off like mad. If I don't change anything - the mortgage
is due to finish in April 2008.

As I'll be going back onto whatever the SVR with Abbey is at the end of the
current deal - is it worth me trying to find another flexible tracker for
such a short time?

I anticipate being able to further overpay in another 6 months or so
shortening the term even more.

chas

Re: Quick question regarding remortgaging - or not...

"chas" <> wrote in message
news:44b53ccf$0$7623$
> My flexible tracker discount deal with Abbey comes to an end soon (Sept) and
> I've been paying it off like mad. If I don't change anything - the mortgage
> is due to finish in April 2008.
>
> As I'll be going back onto whatever the SVR with Abbey is at the end of the
> current deal - is it worth me trying to find another flexible tracker for
> such a short time?

Unlikely, by the time you've taken off any valuation/application/redemption fees for
the new mortgage off the interest you'd save. Particularly if it's for just 6 months.

--
Andy

Re: Quick question regarding remortgaging - or not...

> My flexible tracker discount deal with Abbey comes to an end soon (Sept) =
and=20
> I've been paying it off like mad. If I don't change anything - the mortga=
ge=20
> is due to finish in April 2008.
> As I'll be going back onto whatever the SVR with Abbey is at the end of t=
he=20
> current deal - is it worth me trying to find another flexible tracker for=
=20
> such a short time?

I am not a finance bod !

Not sure how it would work in your specific circumstances, but we just=20
remortgaged ours (~12 years left) as it got to the end of the base rate=20
tracker deal.

Halifax offered two basic variants (given that we knew what we were=20
looking for), the more flexible of the two worked out at about =A34 per=20
month more IIRC, with no early redemption fees or problems with paying=20
more off per month than normal (mortgage has about =A318k left on it)

If you're in a position to overpay, i`d definitely aim towards taking=20
the hit on the small additional monthly fee :-}

Re: Quick question regarding remortgaging - or not...

Andy Pandy wrote:
> Unlikely, by the time you've taken off any valuation/application/redemption fees for
> the new mortgage off the interest you'd save. Particularly if it's for just 6 months.

September 06 to April 08 is about 18 months. The obvious thing to do is
probably check what alternative deal the Abbey would offer (and whether
they'd reduce or waive fees for an existing customer). I'd also check
whether any no fee mortgage deals would offer anything for such a short
period.

As an alternative you could consider trying to borrow all or as much as
possible of the outstanding balance on a zero or low interest credit
card deal (just don't use it for anything else and don't miss
payments).

Thom

Re: Quick question regarding remortgaging - or not...

Thanks for the replies and suggestions. I will ask Abbey nearer the time
just exactly how much they really DO value me as a customer (and have been
for about 8 years) and see if they will offer me anything. Otherwise, I'll
probably just stick with them on the SVR till the end then write and claim
back the hugely inflated exit fee they now charge for paying it off.

(It used to be £80 now it's around £225 or something.)

thanks

chas