what one is better

Auzelia

RBS mortgage deal.

2 Year Fixed Rate
£229.89 3.69% 31/10/2011 4% 4.2% APR 25% £799
3 Year Fixed Rate
£247.32 4.39% 31/10/2012 4% 4.3% APR 25% £499
5 Year Fixed Rate - First Time Buyer Exclusive
£289.66 5.99% 31/10/2014 4% 5.0% APR 10% £0

Obv there is a diff of roughly £60/£40 a month but does this get balanced out due to there being no arrangement fee for the 5 year fixed rate.

Its all so confusing

sammyjammy

You might want to put some spaces in there, I'm confused and cannot read the details you've put, how much is the arrangement fee on the other two?

Auzelia

2 year fixed rate has arrangement fees of £799
3 year fixed rate has arrangement fees of £499
5 year fixed rate has no arrangement fee.

herbiesjp

You need to compare like for like i.e. 2 year deal against 2 year deal.

Otherwise, the choice over 2,3 or 5 years has to include the cost of leaving the current lender after 2 and 3 years, and the cost of setting up the new deal again after 2 or 3 years

You can then see if it is better to do that way or stick with the 5 year deal instead