Confused about APR % rate

needmoneyadvice

Tracker rate is coming to an end, thinking of going onto a fixed rate so know exactly how much to pay each month. Want to to do overpayments. Am thinking about a 5 year fixed at 3.99%, fee of £999, APR is 4.3%.
Also looking at 5 year fixed at 4.44%, APR 3.4%. Both have Early Repayment fees.
Am confused as to me the 3.99% is the better deal but it has a higher APR so am assuming it can't be the better deal. Can anyone help me out and explain which is the better deal? Also advise if I'm doing the right thing in going for a fixed rate now or should I wait a bit longer??

Would be really grateful for any replies. Thank you very much.

SmlSave

Hi,The APR is the average interest charged over the whole term i.e. 25 years. worthless information IMO

To me the 3.99 fix is the better deal

Cannon_Fodder

A £999 fee is equivalent to 1% on the rate per £100k.

So, over a 5 year deal, its equivalent to 0.2%, per £100k.

Not knowing the mortgage amount, its not possible to be definitive which is best.

Presuming the second one has no fee, the other still looks better during the deal. But the APR will reflect the follow-on rate, which if there's a chance the OP won't be able to re-mortgage (due to LTV/salary/having kids/life etc) then they might wish they had focused on the follow-on rate...

dimbo61

The 5 year fix at 3.99% is with coop ?
Fee £999 so long term security and you are allowed 10% ( of outstanding balance )overpayments each year as well!
You have not given mortgage amount or term of mortgage but the 3.99% deal is best ( 5 year )on market at the moment with a 75% LTV.
What does your mortgage revert to now the tracker has ended ?