Standard Life - Take New Deal?

pogologo

Hi all,

Currently have a Standard Life 2 year discounted mortgage with an offset facility which is coming to an end on March 3. I have a current mortgage balance of approx £130,000. Term is 40 years.

I have been offer a further 2 years discounted rate with SL at 4.92 (1.59% off SVR) which is variable. There is a £599 arrangement fee to take this up.

There is a £200 redemption fee if I move the mortgage, no extended tie ins.

I have been looking around and it seems quite reasonable, especially as any other mortgage with offset seems to be 5%+.

I am not fussy too much about having the Offset facility as long as I can overpay. Am not too worried about term, but longer the better as the money I dont pay off the mortgage goes into overpaying. Also open to fix, discount etc.

Is this the best offer or can anyone better it?

Thanks in advance!

Pogologo

UK007BullDog

You would need to look about. It sounds good, however the interest rates are bound to go up this year so any gain you have might be lost by the rate rise.

Only you can say what is best for you. Or visit a free broker to look at what is available.