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re-mortgage advice

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Hi all

Would appreciate some pro advice please?

I have 4 years remaining of a 10 year fixed mortgage with YBS which costs £359 per month (20 years remaining overall)

Current redemption cost including ERC etc is about £55000.

I could shift that onto a Tesco mortgage for a 5 year fix @ 3.19% (£195 fee max 70%LTV) which would bring the monthly payment down to £310 allowing me to make some hefty overpayments.

My question is whether I'm likely to be accepted by Tesco?

House was last valued at £85k a couple of years ago - don't think prices have changes a huge amount since then - Loan required is £55k.

My salary last financial year was about £31.5k, about 10% of which was overtime/bonus. I've just had a £2k payrise. I have no loans or CC debt (I have a small balance on one CC which I pay off in full monthly). I have 4 active credit cards however with total credit available of about £20k.

I have no adverse financial history, on electoral roll etc. I'm married - but house and mortgage are in my name only - wife is in last year of degree studies.

I've checked Noddle and have a 5/5 credit rating with them.

Am I likely to meet tesco's lending criteria? Should I cancel a couple of the credit cards before applying to free up some credit? Would I be better off going through a broker (L&C?) or are there any better deals than than this Tesco one which I may have missed?

Thanks :-)

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