Best 2 yr Fixed rate? (remortgage)

heledd

hi my current 2 year fixed rate deal is coming to an end this week and I'm looking for the best deal, I would like another 2 year fixed rate.

My current lender, Principality, fixed rate is 5.64% plus £135 admin fee (grr!) For the last 2 years I've been on a 4.89% fixed rate with them.

Staying with them means a monthly increase of £50, does anyone know any good remortage deals out there or am I best off staying where I am?!

Thanks x

jeffcarolt

heledd wrote:

hi my current 2 year fixed rate deal is coming to an end this week and I'm looking for the best deal, I would like another 2 year fixed rate.

My current lender, Principality, fixed rate is 5.64% plus £135 admin fee (grr!) For the last 2 years I've been on a 4.89% fixed rate with them.

Staying with them means a monthly increase of £50, does anyone know any good remortage deals out there or am I best off staying where I am?!

Thanks x

I would also like some thoughts on this I am also with the Principality, and they have offered me a fixed rate of 5.74% fixed until 2012 (5 years) overall cost 6.9%, again the admin fee (product transfer charge) of £135 is payable. Any thoughts of the way interest rates are going? or if there are better deals etc, or is it a case of going to a mortgage advisor?

raq

personally go to a mortage advisor....

GunJack

However, you may find that the fees involved with a remortgage outweigh the possible benefits. Best seek professional advice.....

jeffcarolt

I was just after some general thoughts, Yes I know its all down to personal circumstances, but is the deal on offer Good, not Bad, could do better, or crap. I am not just going to take the words of people on this thread as gospel but it fills me with more enthusiasm to check all the figures if I know I can get a better deal.

PosterBoy77

jeffcarolt wrote:

I was just after some general thoughts, Yes I know its all down to personal circumstances, but is the deal on offer Good, not Bad, could do better, or crap. I am not just going to take the words of people on this thread as gospel but it fills me with more enthusiasm to check all the figures if I know I can get a better deal.

You can compare most mortgage products on the website https://www.moneynet.co.uk

You should find it very useful.

GunJack

or moneysupermarket, or a.n. other comparison site...

peterg1965

£135 is cheap for a transfer fee, although the fixed rate seems comparitvely high. There must be some more competitive two year fixes out there. Nationwide do a 5.38% fixed for 2 years (£899 fee). Chelsea BS do a 5.49% with a £695 fee (fees can be added to the mortgage). Whether it is worth remortgaing elsewhere depends on the size of your mortgage and whether you will recoup the additional costs involved during the period of the fix, presuming the rate is lower than Principality. Personally, I would stay put for now, take their two year fix and reassess in two years. You are going to have to pay more anyway because you will not get a fix at the rate you are paying now.

jeffcarolt

Yes as I thought a trawl through all the info, websites and compare. I didn't realise the cost of some of these fees! so thanks for your help, anyone got some aspirin I think I am going to need it.

ashli_2

I have just applied for 5.24% fixed for 2 years at Alliance and Leicester with £599 fee (this is down from £999 as we are going to take out a bank account with them :rolleyes: )

They also do a 5.34% rate for £599, this works out cheaper over the 2 years if you are not going to take the bank account to get the reduced fee on 5.24%