Extend Refinancing.fs with two comparison calculations commonly needed by borrowers and advisers:
1. Remortgage / product transfer cost comparison
Compare the total cost of:
- Staying on the current rate for the remaining term.
- Switching to a new rate, including arrangement fees, legal costs, and any Early Repayment Charges (ERCs) on the existing product.
Output: net benefit/cost of switching in £ and as a break-even period in months.
2. Debt consolidation NPV
Compare two strategies:
- Consolidate: Replace multiple existing debts with a single new facility at a given rate and term.
- Pay individually: Continue paying each debt at its current rate until cleared.
Output: NPV of each strategy and the net saving/cost of consolidation, factoring in any fees and the opportunity cost of extending the overall repayment term.
Extend
Refinancing.fswith two comparison calculations commonly needed by borrowers and advisers:1. Remortgage / product transfer cost comparison
Compare the total cost of:
Output: net benefit/cost of switching in £ and as a break-even period in months.
2. Debt consolidation NPV
Compare two strategies:
Output: NPV of each strategy and the net saving/cost of consolidation, factoring in any fees and the opportunity cost of extending the overall repayment term.