Hi all, first post here so please be gentle!
I'm currently considering a remortgage but would like to hear some thoughts on my reasons for this.
I'm currently on a very good mortgage deal, 1.25% which I currently overpay by £50 per month. I know this is a good position to be in and that's part of the reason I would like to hear some thoughts.
I wouldn't say we were 'struggling' each month but I think this remortgage will free up some cash on a monthly basis to allow us to 'live' a bit more.
The plan (if I go through with it) is to remortgage with a bit of extra cash included. The extra cash would be used to carry out some home improvements and to pay off an unsecured loan which still has 3.5 years to run.
Now i'm fully aware of the downsides to taking this course of action; I'll end up paying a bit more and it'll take longer to clear my mortgage. But on the plus-side I'll have around £150 extra per month to have fun with my young family.
Thoughts?
I'm currently considering a remortgage but would like to hear some thoughts on my reasons for this.
I'm currently on a very good mortgage deal, 1.25% which I currently overpay by £50 per month. I know this is a good position to be in and that's part of the reason I would like to hear some thoughts.
I wouldn't say we were 'struggling' each month but I think this remortgage will free up some cash on a monthly basis to allow us to 'live' a bit more.
The plan (if I go through with it) is to remortgage with a bit of extra cash included. The extra cash would be used to carry out some home improvements and to pay off an unsecured loan which still has 3.5 years to run.
Now i'm fully aware of the downsides to taking this course of action; I'll end up paying a bit more and it'll take longer to clear my mortgage. But on the plus-side I'll have around £150 extra per month to have fun with my young family.
Thoughts?