Mortgage renewal time

Fugitive

I've had a fixed term mortgage of 5.29% with the TSB for the last couple of years and it it's coming to an end 1st July.

They sent me a 'special' offer of fixed term 4.99% for 2 years. I'm sure I can do better.

My mortgage is split into around £50k in Repayment and £25K in interest only (I retained my endowment payments that should pay up more or less the £25k needed). Mortgage should terminate in about 8 years.

Any ideas where I can get a better deal than the TSB are offering ?

Cheers.

homer_j_3

4.99% isnt the most competetive fixed rates at the moment, however, when you take into consideration fees and setup costs etc, it may well be worth sticking with the 4.99.

Best thing to do is see a Whole of Market broker and see how is compares to what you are being offered.

herbiesjp

There are indeed lower 2 year fixed rates - however set up fees for the nes scheme and exit fees for C&G would all have to be taken into account when calculating the benefits of moving away.

Gambler

I'm with C&G (part of lloyds TSB) and they have offered me 4.45 for 2 years (£499 fee).

Fugitive

Thanks for the feedback.

I'm surprised but I take on board your comments as this switch would indeed have no fees attached to it.

It's probably not worth it either financially or hassle-wise for the sake of half a percent then.

boatman

I've been offered 4.69% tracker from the woolwich now my discount is coming to an end, no fees. Or 4.99% 2 year fixed, £495+£100 fees.