I'm a shameless rate tart

Yahraas

Hi there,

I'm looking to switch mortgages this month and am unsure of which is the best option for me. I've been on an interest only mortgage for the last 5 years but have recently started a better paid job so would like to switch to repayment (and make overpayments of between £500 and £1k+ a month).

I owe £255k.

I've been considering the IF 2 year 4.99% tracker but find the arragement fee a trifle steep at £1,499. Also, I would have thought that the benefits of the IF account are rea\lise dover the longer term, not 2 years. Another deal that jumped out at me was the Britannia 5 year at 5.24%. Their arrnagement fees are more reasonable at £499. I'm with the NW at the moment and the bext fixed they have is 5.44% for free.

Can anyone tell me, if they were in my shoes what deal would they plump for - would they buy into the IF for £1.5k? or stick with a normal mortgage with overpayments?

Cheers, Stu:cool:

MortgageMamma

INtelligent finance also have a 5.24 with a 799 fee and a 5.44 with no fee

They are exclusive to a particular mortgage network though

Have you not thought about the woolwich lifetime tracker capped at BOEBR +0.18% for life capped at 5.99%

if you went on that, ran your current account with it to reduce the interest and stayed on it for life you could save an absolute fortune in remortgage fee's

Spangled

Sorry to butt in on this thread...

MortgageMamma - I saw you post about the Woolwich lifetime tracker yesterday. It sounds great but I can't find it on the Woolwich website. I can only find BR +0.18% with an *optional two-year cap* for a £595 fee ie not capped for the life of the mortgage:

http://www.barclays.co.uk/mortgages/googlebrand.html?WT.srch=1

Did you mean the mortgage was capped at 5.99% for life as well? If so, is that deal a broker-only deal?

Thanks!