Remortgaging appointment with HBSC tomorrow, what should I be looking for?

ziopin

Hi, I have an appointment with the mortgage manager at HSBC tomorrow.

We have 2 mortgages on the property a small one £35000 which we took out in 2008 as a lifetime tracker at 1.44%

And our large mortgage of £220,000 on the standard variable rate (currently 3.94%) both have 19 years left to pay.

We currently overpay £100 on the smaller mortgage, and we have around £250 more available we could use towards the mortgage.

Here's what I thinking. Stop overpaying on the smaller loan, just paying the normal repayments, change the larger loan to a tracker mortgage at 2.89 and pay £350 overpayment on this one, or should I overpay this much on the smaller loan and pay that off in just under 6 years.

Please help x

Thrugelmir

Make the overpayments on the larger mortgage. Will save you more interest.