Remortgaging time and need advice

mooch1uk

Hi all

Remortgaging time has come around and payments are going up!!!

I am currently with Chelsea Building Society. My current rate is 5.19% repayments are £377. I have 8 years left and £30,000 to pay.

I have been in touch with Chelsea and they are offering the following:

SVR = 7.24% = payments of £430

2 year fixed at 6.39% = payments of £420 and product fee of £395

5 year fixed rate at 6.49% = payments of £417, no product fee.

Just starting to do my research as advised by Martin! Thought I'd start with the experts first!!! I am open to all advice.

Thanks in advance

bubblesmoney

see the hsbc thread. their rates seem to be very competitive for lifetime tracker mortgages with no fees

beecher

With such a small mortgage is probably isn't worth moving over to the HSBC though as the legal fees etc would make it unlikely you'd gain anything.

http://www.thechelsea.co.uk/mortgages/eb_product_intro.html#tracker

There's a couple of trackers too but the one without a fee is a higher rate than the 5 year fix you've been offered so I'd probably be tempted by the 5 year fix myself.