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The surety differential
maggiemayhem
Posts: 33 Forumite
My mortgage is currently 80,000 and the house is worth 300,000 and I are re-mortgaging.
I am trying to decide between :
As rates on the tracker will change over time, I will need to look at how much interest rates would need to change and when before one deal beats the other.
Is there a tool out there to aid this in any way or failing that could someone explain the formulas Martin used for his calculations in his
'analysing the rate differences' briefing so that I can use them with different possibilities.
Any help on this would be much appreciated
I am trying to decide between :
- Co-ops 5 year fix at 3.99% 1000 fee
- First direct term tracker at 2.29% (+1;79) fee 100
As rates on the tracker will change over time, I will need to look at how much interest rates would need to change and when before one deal beats the other.
Is there a tool out there to aid this in any way or failing that could someone explain the formulas Martin used for his calculations in his
'analysing the rate differences' briefing so that I can use them with different possibilities.
Any help on this would be much appreciated
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