Urgent need for mortgage

vincennes_2

Hi

We nearly bought a house in July and at the time we had applied for a 3 year fixed rate mortgage at 6.38% with HSBC. It is fees free (no valuation costs either). The reason for choosing it was that we only borrow £25,000 and a lower percentage mortgage was going to cost too much in fees. Not worth it.
We are now finally moving (completion date in 5 weeks) and I wonder if I should stick to this deal. There does not seem to be much out there and I don't think it is worth paying £1,000 arrangement fees for one percent lower.
Also, HSBC has done all the paperwork so there would be no delay.
I would appreciate a bit of advice.
Thanks

herbiesjp

Have you got a mortgage for £25k

If so, then you are right to think that your are more sensitive to fees as opposed to interest rates

There are some deals out now in the mid to high 4% region - with different fees, so ideally you would need to compare against those, and maybe other deals that will come out shortly, and see which could work out better for you