How do I work it out?

sammyjammy

Two choices both fixed rates over five years.

A - 4.39% borrowing £58k with £1250 added to loan for fees
£651pcm and £29,229 remaining at end of fix

B - 5.09% borrowing £58k
£670pcm and £29,046 remaining at end of fix

So paid off extra 170 with higher rate but spent £1200 in repayments, does that mean the lower rate with the fees is better deal even with a smallish mortgage?

Help me I just can't seem to get my head around this.

JonnyBravo

Yep with the figures you've given option A is better (I haven't checked these figures mind, just assumed you have)

sammyjammy

Yes I've run the figures through Whats the cost calculator, thanks, these things could drive a girl mad!

getmore4less

Stick £670 as the payment on A and that will give you a better comparison.

Costs are the same, amount owing after 5y tells you how much better it is.