Mortgage advice/opinion relevant to the UK?
April 23, 2004 6:17 AM   Subscribe

Mortgage advice/opinion relevant to the UK? (More inside)

I'm in the UK and the fixed rate period of my mortgage is due to run out in June. Now, I know little of economics and even less of financial planning, but it's fairly clear even from my limited knowledge that the 5.99% variable rate I'm due to move on to is not the best deal available. The mortgage is only for £40,000 and the house is now worth about £70,000, so there's no problem with equity. I don't intend to move house within the next five years. Anyone have any knowledge/opinions on what's the "best" type of mortgage or even a specific policy? I've seen a couple of financial advisers but they both had wildly differing advice. I'd be interested in a MeFi take on the issue as I'm a bit of a numpty when it comes to financial matters.
posted by squealy to Work & Money (1 answer total)
You'll find absolutly everything you need to know about mortgages in the UK here.

I would suggest that you consult a specialist independant financial adviser (IFA) who advises on nothing but mortgage work. The consequences of making the wrong decision can be pretty dire (see the current FSA investigatrion into the mis-selling of endowment mortgages.)
posted by dmt at 6:25 AM on April 23, 2004

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