Time for a new Mortgage - where's best?

Hatties_mate

It's time I looked for a new mortgage ??? ???
What sort of offers are out there?
I need 200k on interest only. Currently with Bank of Scotland at bank base rate plus 1%. No tie in's. Value of property 450k. Do I go fixed, discount, offset (but very mimimal savings) or other ?
help appreciated

lisyloo

Your cheapest option is probably to go discount.
Last time I looked Natiowide were doing 4.54% for 2 years (discount with 2 year tie-in).
Application frr of £349 but no fees for leaving and no overhang (penalties beyond the discount period).

Offset will be a higher rate and interest rates have almost peaked so not much point in going fixed in my opinion (althought there is of course the possibility that the outlook could change so that needs to be considered).

You might be able to get a better deal than that by shopping round or going to a broker but I think that's pretty good.
BTW - I last loooked before the interest rate rise so it's probably 0.25% higher now.