Is this the best mortgage deal for my circumstances?

SHEILA54

Hi

I have a mortgage of £42000 outstanding with the Halifax with another 9 years to go. I need to borrow another £40000 to extend etc. as my daughter, son in law and grandchildren live with me and we need another bedroom.
I have a pension of £25,700 and am looking to spread the cost over 10 years but my family will pay for £30000 of the mortgage payments, although the mortgage will be in my name. The Halifax have agreed to lend me another £39600 but would this be the best deal as their rates are not always the lowest?
There are no redemption penalties on my present mortgage.

Thanks

MortgageMamma

You would have to instruct a whole of market mortgage advisor to do a like for liek comparison really, what have halifax offered you?

SHEILA54

Hi

Halifax offer 5.39% tracker without fee, 5.29% with £399 fee or 5.85% fixed to December 2011 without fee or 5.75% with £199 fee.

Thanks for asking

MortgageMamma

and which one of those options do you want to go for? you would probably be better with the fee's free options as you have a small mortgage