Britannia remortgage - No Deal

Gorgeous_George

Hi

I decided to ring Britannia to find out what they could offer me as a remortgage. I hoped that they might do a deal to tempt me away from my lifetime offset tracker at BofE +0.74%.

In brief, they won't.

All I was offered were rates currently availabe to anybody. Nothing special in exchange for my currently great rate. Not even a waiver of the arrangement fees.

So, I'm staying put. BofE Base Rates need to average more than 4.94% over the next ten years for me to lose out Whilst that is quite likely, my mitigationis in the form of offset savings

For ten year fixes I was offered 5.49% with a £599 fee or a slightly less attractive 5.99% with no fees.

I would have considered 4.3% so not even close.

Will I regret not switching?

GG

dimbo61

With the Post office offering 4.45% ( fee £599)for 5 years and
HSBC offering 4.24% ( fee £899) for 5 years
not tempted at a long term fix and reducing the term george.
Having said that you have your offset savings unless you want to use the 20% overpayment allowed by HSBC
Trying to be MF asap for me.

Gorgeous_George

dimbo61 wrote: »

With the Post office offering 4.45% ( fee £599)for 5 years and
HSBC offering 4.24% ( fee £899) for 5 years
not tempted at a long term fix and reducing the term george.
Having said that you have your offset savings unless you want to use the 20% overpayment allowed by HSBC
Trying to be MF asap for me.

A 5 year mortgage fixed for 5 years? The 4.24% deal is £70 cheaper than the 4.45% over the term and the monthly repayments just about affordable. Might be interesting but then there's the hassle and cost of moving.

I think I'll just increase the funding into my current offset (same effect as overpaying).

GG