Hi all first time posting ... after much reading on these forums I decide to call BOFI today to see what I can do about my fixed rate.
Background info ...
Amount left on mortgage .. 287000
Date fixed August 2017
Date fixed rate up August 2020
Current fixed rate 3.2%
LTV : 70%
Amount of time left on the mortgage 24 years .
I wanted to negotiate a lower rate and find out what the breakage fee is .
They are prepared to offer me 2.9% for two years but they are insisting on 560e breakage fee.
Has any got any further with negotiating their rate down and the breakage fee ? I’m unsure if the breakage fee is correct ? Any tips greatly appreciated !
Background info ...
Amount left on mortgage .. 287000
Date fixed August 2017
Date fixed rate up August 2020
Current fixed rate 3.2%
LTV : 70%
Amount of time left on the mortgage 24 years .
I wanted to negotiate a lower rate and find out what the breakage fee is .
They are prepared to offer me 2.9% for two years but they are insisting on 560e breakage fee.
Has any got any further with negotiating their rate down and the breakage fee ? I’m unsure if the breakage fee is correct ? Any tips greatly appreciated !
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