What mortgage rate is better?

mose_2

3.29% £99 upfront £900 product fee

or

3.49% £99 upfront £0 fee

These are both 5 year fixed, so over the 5 year period?

opinions4u

How much are you borrowing?

Rather relevant.

mose_2

Sorry, £148000

opinions4u

I should have asked for the term too.

Likely to be marginally better with higher fee / lower rate though.

mose_2

27 years

thanks

jb66

Depends on how much your borrowing

dimbo61

On £148K over 25 years
The 3.29% deal would cost £728.76 per month owing £128026.99
the 3.49% deal would cost £740.13 per month owing £127730.52
Now you would pay £11.37 less each month so £682.20 over 5 years
but you have a slightly larger balance at the end of £296.47
The 3.29% deal is better if you overpay the £11.37 each month !!!

dimbo61

Use "whatsthecost" to work it out