Re-Mortgage

mikeydpippin

This is excellent information just the advise i need i will look for a lender to match your suggested requirements. So the fees are more important than the lower rate.Message recieved many thanks recommended lenders greatly appreciated.

Locoblade

No probs, if you don't need/want to fix the rate there's several baserate trackers with no fees at 5.99% (BoE +0.99%). If you want to fix then there probably would be some fees involved at rates under 6%, but less than the one you've highlighted above so they may well work out cheaper still, and/or leave you with less capital at the end.

As you may have now realised, the problem with most of the mortgage comparison sites is they don't generally show the amount of capital remaining at the end of the fixed period, so loans that offer low rates (and therefore low repayments) with high fees added tend to look better in the tables than they really are.

mikeydpippin

Many Thanks Chris, So i need to find a re-mortgage with no fees and ideally less than 5.99% rate Thanks for your help, Mike

Locoblade

Its basically a balancing act between fees and rates, you just need to find the combination that gives you best value for money. The higher the fees, the lower the rate needs to be to justify them.

mikeydpippin

Many Thanks chris just a reminder

_dave__4

Locoblade wrote: »

As you may have now realised, the problem with most of the mortgage comparison sites is they don't generally show the amount of capital remaining at the end of the fixed period, so loans that offer low rates (and therefore low repayments) with high fees added tend to look better in the tables than they really are.

You could try this online calculator to compare mortgages with fees and different interest rates:-

http://calc-calc-calc.net/get/calc/Mortgage-Comparison?L=54000&I1=4.99&Yrs1=2&Add1=1475&Term1=8&I2=5.99&Yrs2=2

HTH