Advice please

Mint1955

We have 2 interest only mortgages with Nationwide

1 - 80000 on 6.15% until 31/7/2013 early repay charge £2450
2 - 99000 on 5.28% until 31/12/2011 early repay charge £2900

Both mortgages finish April 2029

My small brain cannot work out if we would be better to ditch the fixed and pay the fees and get onto a better rate (fixed or variable) and use the savings to overpay the mortgages as well.

Or carry on as we are. What other costs apart from early repayment feesmay we have to add into the sums.
Sheila

Updated to say I bit the bullet and rang Nationwide hoping they woudlnt totally confuse me and they said....... cannot help at all as they will not allow re mortgaging so we would need to pay of the whole mortgages and find another provider.

dimbo61

What do the 2 parts of the mortgage revert to at the end of the fixes? Not the BMR of 2.5% by any chance?
My guess is that its cheaper than what you are paying now so read the paperwork that came with the mortgage
Have you got a repayment vehicle in place ? if not then overpay the more expensive part once you drop onto the BMR/SVR