Secured an interest rate of 2.5 a while ago. Found a house with much bigger mortgage but much nicer property. Got scared that everything was getting expensive and that the additional 350 a month might not be a good idea.
Went back to broker to re mortgage on current house as it comes up for renewal in a few months anyway. He said the payments would now only be 150 difference between the two houses as the rates are over 6 percent. So even though the new property has a longer term than this one (this isn’t a concern long term for personal reasons), I would effectively be paying near the same amount a month to live in a wildly different house - no work needs doing, new furnishing, property garden etc. Do you agree it’s best to now go ahead with the move as it would be silly to stay with increased rate? Can’t use this 2.5 rate on current place, already asked.