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Is this a good deal?

ness_w · 2011-02-23 22:39:45

My building soc has written to me offering 3.99% fixed for 5 years. After that it would revert to tracking base rate at +0.95% with a floor of 3.45%. There would be no charges and no early repayment fee. Currently my mortgage tracks at +0.95% so I am paying 1.45% interest. We owe about 70,000 and have 15 years left. I am…

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ness_w Posts: 334 Forumite

24 February 2011 at 10:16PM

Yes, my current mortgage has an offset facility, though I've never used it. Thanks so much for everyone's input and for your figures getmore4less. Like many people I find this kind of thing very difficult to understand so advice is more than welcome!

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Is this a good deal?

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