Remortgage

Robs1

Hi to all,
This is my first post on this forum. Im due to remortgage at the beggining of April. At present im with Nat West but im looking for a better deal. Im looking for a fixed rate for 5 or 10 yrs (not sure which) on a mortgage of 20yrs or less with repayments of no more than £450 pm. Im not sure about the arrangment fees. My basic question is is it worth paying a higher fee to get a lower interest rate and if so is it wise to take the longer term tie-in. Any advice on this would be helpfull to my very turmoiled brain at the moment THANKS

toonfish

you need to look at the true cost over 5 or 10 years, which will take account of rate/fees/discharge costs etc - a broker will be able to source the product on this basis

herbiesjp

Low rate, high fee schemes tend to work in your favour if you have a large mortgage.

As rightly stated above, you need to look at the true cost over the incentive period you are looking at

Robs1

Im looking at the Derbyshire BS (Direct) which seems to have the best true cost over 10yrs (im on money supermarket) even though the Arrangement Fee seems rather large. should i take it that taking the tie-in over 10 yrs rather than 5 yrs offsets the Arrangement Fee better. Thank You