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