Hi all, feel free to move this as I wasn't sure what sub forum to post in
I have a few questions if someone would be kind enough to help or advise,
We have our remortgage due next month. Ideally we would like to take some money out for some home improvements but I am not sure if we have the equity yet or if it is worth us saving up for this over the next 2-5 years ? Is it better to borrow against the house now while prices are up and borrowing is low ?
Also our current mortgage repayment is roughly £1200 a month
for a 2 year fix @ 2.94% our new costs will be £1413
For a 5 year fix @ 2.99% our new cost will be £1424
The monthlies don't really change so would we be better at fixing for 5 years at that rate ?
Thanks