Final decision check- Please help

natman

Hi,

I have asked this question a couple of times but I get very limited responses and would really appreciate some guidance. especially from any Mortgage advisers.

Current Mortgage - Britannia Building Society is in two parts
part 1 - 0.75% above base tracker owing approx £23k lifetime product
Part 2 - 5.09% fix, coming to an end soon, owing £ 64k approx.

Loan to Value is 40%, House worth £215,000 outstanding mortgage £67k.
Our combined salary is 42k

We have been offered a new remortgage with HSBC at 1.99 above base tracker for life of the mortgage - making APR 2.5%

Britannia will allow us to keep the part 1 tracker, but we would have to take on a new product for the £66k.
The only tracker they have is 2.69% above base, which on its own does not seem that great, but when you combine the two products the APR ends up being 2.6%, which then looks a lot better. However you have to take out a bank account with them for this'deal'

My concerns -
We have been with Britannia for 10 years and they have always been really helpful with changes and issues that have arisen. However I dont really want to take out a bank account with them.

HSBC are a big bank that are not as flexible or accommodating, but you dont have to take out any other products with them.

My questions -
should I stay with Britannia on an average APR of 2.6%?
Should I switch to HSBC?

Do you think Britannia would offer a bespoke product based on our LTV? Their current LTV is based on 75%, and we only require 40%.

Any opinions or information would be fantastic.
Many thanks
n

natman

Hi,

Can any of you guys help me with this.

Thank you so much.
n:j

_Andy_

In answer to one of the questions, they won't offer a 'bespoke' product. If the lowest LTV product is 75% that's what you will be offered