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14 February 2010

Remortgage from a fixed deal on a life tracker?

I still have 18 more months on my fixed mortgage deal with Halifax at 5.99%. 122 000 borrowed with 21 years remaining. Early repaiment fee of current deal 2.5k. I am considering life time tracker with no early repayment fee. Should be able to get a deal on 75% or 80% LVT, lowest interest i could find so far was with ING direct at +2.39 above Bank of England rate, which woudl bring my interest down to 2.89%. I could expect to clear my fee in the next 12 months if I switch in case the interest does not go up. Should I aim to do that or shall I wait longer for better life time tracker rates?

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