{"id":38851,"date":"2016-12-22T14:00:40","date_gmt":"2016-12-22T07:00:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-dip-into-our-savings-to-reduce-our-mortgage\/"},"modified":"2016-12-22T14:01:52","modified_gmt":"2016-12-22T07:01:52","slug":"should-we-dip-into-our-savings-to-reduce-our-mortgage","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-dip-into-our-savings-to-reduce-our-mortgage\/","title":{"rendered":"Should we dip into our savings to reduce our mortgage?"},"content":{"rendered":"


\nWe need to remortgage in a few months and wonder if it\u2019s best to lower the amount we need to borrow Q We are looking to move up the housing ladder and have managed to save \u00a360,000. However, we are struggling to find a house we like so it may be another year or two before we move. The issue is that we are coming out of our five-year fixed rate on our current mortgage in April and all the numbers suggest that it would be better to remortgage than stay on the lender\u2019s standard rate. Is it best to use some of our savings (maybe \u00a320,000-\u00a330,000) to lower our remortgage or keep the money until we amend our mortgage for the new house?I am just confused if lowering our current mortgage is the same as having more equity for our new house. My gut says lowering the current mortgage is best overall with the reduction in debt and interest paid, but I am worried I am mixing it up and all the other advice out there doesn\u2019t seem to cover this area. SJ Continue reading…
\n
\nSource : theguardian.com
\nRead more…Should we dip into our savings to reduce our mortgage?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

We need to remortgage in a few months and wonder if it\u2019s best to lower...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-38851","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-a6D","jetpack-related-posts":[{"id":125589,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-happens-if-i-remortgage-two-or-three-years-into-a-fixed-rate-deal\/","url_meta":{"origin":38851,"position":0},"title":"What happens if I remortgage two or three years into a fixed-rate deal?","date":"March 21, 2022","format":false,"excerpt":"\r I\u2019m an older first-time buyer and I\u2019m confused about how my payments will change over timeQ I\u2019m an older first-time buyer and intend to get a mortgage on a property that is worth no more than \u00a3110,000. The mortgage period is 15 years and I have a 15% deposit.As\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":132230,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-our-savings-go-towards-the-help-to-buy-loan-or-overpaying-a-new-mortgage\/","url_meta":{"origin":38851,"position":1},"title":"Should our savings go towards the help-to-buy loan or overpaying a new mortgage?","date":"December 5, 2022","format":false,"excerpt":"\r Our five-year fixed-rate deal ends soon, we have saved \u00a3100,000 and need the best remortgage strategyQ My husband and I purchased a property in May 2018 for \u00a3600,000 using the London help-to-buy scheme. We took out the maximum help-to-buy loan of \u00a3240,000 and put in a \u00a330,000 deposit. At\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-may-have-to-let-our-house-next-year-will-that-affect-our-remortgage\/","url_meta":{"origin":38851,"position":2},"title":"We may have to let our house next year \u2013 will that affect our remortgage?","date":"November 17, 2016","format":false,"excerpt":"\r My girlfriend and I want to move to the continent and wonder if we need to get a buy-to-let deal when remortgagingQ My girlfriend and I got our first mortgage of \u00a3205,000 on a house in February 2015. The mortgage has a 30-year term and an interest rate of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101436,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-remortgage-for-the-final-18-months-of-my-loan\/","url_meta":{"origin":38851,"position":3},"title":"Should I remortgage for the final 18 months of my loan?","date":"November 19, 2018","format":false,"excerpt":"\r I have an interest-only mortgage and I\u2019m a bit concerned in case the rate goes upQ My current fixed-rate mortgage deal ends about 18 months before my mortgage comes to an end in 2022. It\u2019s an interest-only mortgage so the last \u00a340,000 should be paid off by my endowment\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":151,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-want-to-remortgage-the-family-home-to-buy-my-daughter-a-flat-my-worry-is-tax\/","url_meta":{"origin":38851,"position":4},"title":"I want to remortgage the family home to buy my daughter a flat \u2013 my worry is tax","date":"December 17, 2015","format":false,"excerpt":"\r The plan is to grant her an informal mortgage, which she could pay directly to the bank, but would her repayments be considered taxable rental income for me?Q My daughter is struggling to have a mortgage approved on a new flat costing \u00a3200,000. At the same time, my wife\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71046,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-pay-a-penalty-and-remortgage-while-rates-are-low\/","url_meta":{"origin":38851,"position":5},"title":"Should we pay a penalty and remortgage while rates are low?","date":"November 6, 2017","format":false,"excerpt":"\r We can\u2019t work out if it would be cost-effective or notQ There has been a lot in money advice columns recently about remortgaging now to secure a low interest rate, and my husband and I are really confused.Our outstanding fixed-rate mortgage is \u00a3165,000 on a property valued at \u00a3280,000.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/38851"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=38851"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/38851\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=38851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=38851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=38851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}