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I'll be remortgaging in the next six month after a 10 year fixed rate comes to an end. We all know that at the start more money goes to pay the interest and less the load, this gradually reduces until more is paid to the loan than the interest. At 10 years on morgtage taking over 20 years, I am right on the middle so should be paying about the same on both the loan and interest. Now if I move mortgage to. anew provider will I loose out as I will again be paying more interest than loan or will this not make any difference as at the end of my 20 years (or 10 on the remortgage) I will have paid the same regardless.

I hope I have made the above understandable.

Gary.

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Gary.

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"Macintosh - We might not get everything right, but at least we knew the century was going to end." Douglas Adams.

If the remortgage results in reduced monthly payments go for it, if the payments are going to be higher stay as you are.

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My lender adds interest each month based on the current rate, so each payment is based on interest of current balance plus a portion of the loan amount, so the overall balance diminishes each month (and it's well under half what is was 14.5 years ago, 10.5 years to go! All left is repayment type, interest only part all gone for us now ).

We still pay the same amount each month, until base rate changes anyway.

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James
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