Hows this offer look

longwalks1

Been shopping around and bee noffered these 2 mortgages, what are they like given current climate:

2 year fixed @ 4.17% 80% max LTV then variable of 2.99% above base. 999 fee

2 year variable currently 3.38% @ 2.88% above base. 80% max LTV, 999 fee

Am looking to remortgage current home to free up some capital for improvements

hcb42

there are products with better product fees out there, and better rates, particularly if you are at say 75% ltv or less.

Is the second one a tracker?

kingstreet

Choosing a product with no fee, a low fee or a high fee with corresponding difference in rate will depend on how much you are borrowing.

Under £100k chances are you'll be better off with no fee, higher rate option. Between £100k and £130k could be small fee with mid rate and above £130k higher fee with better rate.

Work out total costs, including fees, over the offer period and see which works out cheapest overall.

longwalks1

hcb42 yup i think the 2nd one is a tracker

kings, I need to borrow 80% LTV and my figures as below:

value: £170,000
need: £136,000