Sticking with Current or Swop Mortgage

natman

Hi.

I am in the very early stages of moving home and doing a part ex.

I need extra funds to buy this house and wanted to just run a couple of things past people.

Our current outstanding mortgage is - £25,000 on a Britannia Build Society base rate tracker - 0.5% above base rate for the life currently paying 2% on the 25k(took out around 10 years ago).

I need an extra £60,000 to afford this new house ( the finances are fine we have been told we can have up to £160k mortgage, we just need in total 85k)

Any how - phoned up Britannia - they highlighted I could port my 25k to a new house on the current 2%:T
But I could not add any more to that amount, and the new 60k would have to be on a new product -
The products on offer are all fixed from 4.69% with arrangement fees to 5.29% without arrangement fees.
My new Monthly payment is roughly -
25k on 2% for 21 years - £122
60k on 5% for 21 years - £389 Totalling - 511 a month

I have just had a quick nosey regarding mortgage products for the total 85k and using a comparision site i get around £495 a month........... But again these are on a fixed for the whole ammont for two years.
Most of these products have arrangement fees of - £1000 plus admin of £250 so are expensive to gethold of.
Britannia have almost guaranteed a mortgage so long as valuation and credit check are fine~(which they are) as i am a current customer. I am reluctant to let go of my base rate tracker....................

Anyone any thoughts!!>>