Remortgage Advice / Recommendation / Suggestions

gmgohara

Hi,

Currently have a Woolwich Offset which I use for Mortgage / Loan / Current and Savings etc.

Looking to see if I am better staying where I am or remortgaging

Situation as follows :

Mortgage Balance : £58600
Term Remaining : 7 Years 3 Months
Interest Rate : 5.5 % variable (tracks barclays base rate + xx percent)
Provider : Woolwich Offset
Repayment Basis : Repayment (Cap & Interest)
Monthly Payt : £ 466

Also have 2 Reserve / Loan pots for £ 4750 (paying @ £250 per month) and £ 4500 (paying at £100 per month). Total £9250

All my savings are with Woolwich being offset and they total £16000

Currently overpay mortgage by £100 each month

Tax wise, I am a higher rate tax payer !!

Question is :

1. Am I better off staying where I am ??
2. Should I remortage to another provider and put savings elsewhere ??
3. Should I remortgage to another offset provider with a better rate

Grateful for any suggestions / advice / recommendations

Please post here or e-mail to gmgohara@btinternet.com

Many thanks

Glenn

gmgohara

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