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C&G Port & Additional Borrowing ~ Should I Stay Or Should I Go?

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I am thinking of moving and want to know if it’s worth staying with C&G and porting current 59K (at good rate) and borrow additional monies with C&G or move elsewhere?

Summaryof current details:~

· £58,933.00 mortgage on variable tracker 0.58% above BR for remaining 11 yr term (no tie ins)

· Tookout additional 8K last yr with C&G fixed rate @ 6.29% which ends 31.03.15then HVR.

· Totalcurrent mortgage balance £66,470.00.

· Realistic current property value 125K.

· 58.5k Equity. Allow approx 5K for fees therefore 53.5K Equity.

MeetC&G Advisor recently and they confirmed the following:~

· Can port 59K on same T&Cs and can amend term from current 11yrs.

· My mortgage will be retained by Lloyds and won’t be affected.

Keyfacts provided with offer:~

· Purchase price of property say £200,000.00 (worst case) more likely to be between 180 to 190k.

· LTV 74% based on 200k property and 147kmortgage.

· New mortgage offer £148,260.00 (£1260 fees) approved on the day.

· Port £58,933.00 at 0.59% tracker variable for new term of 25Yrs = £224.11 per Mth.

· Additional borrowing £89,062.00 variable @ 2.79% until 31.05.15 then HVR based on 25yrterm = £411.04 (10% overpayments allowed).

· £1,610.00 fees (product fee £995 on or before completion, valuation £350.00 (to be paid up front), mortgage account fee £265)

· Total new mortgage per mth £636.64

Given the above and the fact that I have such a good rate on the existing £58,933.00, would I be better off staying with C&G/Lloyds and is there little point in looking at moving completely to a new lender? Or do you think I may get a better deal elsewhere?

Anycomments are welcomed and appreciated.

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