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First Direct offset mortgage offer
spg1
Posts: 44 Forumite
Hi
I'm currently on a FD 3.69 SVR offset mortgage which I've had for the past four years.
They rang me yesterday to highlight new offers on offset mortgages and have offered me a tracker rate of 2.09 over base rate (so 2.59 currently) for the remaining life of the mortgage with a discounted arrangement fee of £199 and no penalties on switching to another FD mortgage in the future (I'm very happy with FD so unlikely to want to move). On the face of it that seems a pretty good deal, saving me around £60 a month in interest costs on the £60,000-ish balance although I appreciate interest rates are likely to rise at some point.
Or am I missing something??
I'm currently on a FD 3.69 SVR offset mortgage which I've had for the past four years.
They rang me yesterday to highlight new offers on offset mortgages and have offered me a tracker rate of 2.09 over base rate (so 2.59 currently) for the remaining life of the mortgage with a discounted arrangement fee of £199 and no penalties on switching to another FD mortgage in the future (I'm very happy with FD so unlikely to want to move). On the face of it that seems a pretty good deal, saving me around £60 a month in interest costs on the £60,000-ish balance although I appreciate interest rates are likely to rise at some point.
Or am I missing something??
0
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