remortgage advice please

Hi all

I have a 3 bed bungalow that I bought 2 years ago at 62000 the mortagage was for 55000 with northern rock and was a fixed 7 year with a 1100 early repayment charge within the 7 years at 5.69 % I guess this was probably a crappy deal really as I never expected the low interest rates and for so long and I never reckoned on wanting to remortgage to get extra cash towards adding a dormer to the bungalow and doing some double glazing so I need an extra 25000 .

So what I say is can anyone gimme any good advice on remortage on this property also only expect to stay here another 5 years after this work is done.. the property is currently worth 110,000 and I need to do the remortgage over 25 years due to cash restrictions.

So can anyone see any hidden costs for me regarding remortgage ? can anyone suggest a good mortage product ?

currently my repayments are 330 per month and I reckon I could handle as much as

450 per month

thanks in advance for any advice .....

Lee

Reply to
Lee
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That doesn't seem too bad. There will always be a redemption penalty on fixed rate deals. You don't need to get that much of a reduction in the rate over the next 5 years for it to be worthwhile paying the penalty.

Reply to
Jonathan Bryce

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