Advice needed! New Fixed Rate deal

acer1ism

Hi All
I could do with some of your expertise regarding my current mortage dilema!
Ill try and keep things brief and to the point...

My situation:

I share a mortage with my fionce and have this month fallen off of the end of our first time buyers mortage. Our previous rate was 5.09% fixed for 3 year on a mortgage of roughly £120k. We only have 10-20% equity with the current market prices.
I had searched high and low for a new deal but enventually found the best deal for us was to stick with our current mortgage provider. The deal i found was fixed for 2 years at 6.13% but did have a £999 set up charge. One benefit was that we avoided paying a £260 exit fee.
We were about to go with this and then the BOE base rate came down and i paused, thinking that it would be worth paying one months worth of SVR to allow us to review the market and see if we could find a better deal.

Now it seems that our current provider has indeed dropped their SVR to 6.5% BUT upped the fixed rate 2 year deal to 6.73%!

I still have a valid offer on paper of the 2 year fixed 6.13% deal, but am unsure wether this is a worth while deal considering it costs £999 to set up and would only really save us about £20 a month on the SVR.

Any advice or ideas much appreciated!