Is the Chelsea 2yr 1.74% OR 3yr fixed 1.99% too good to be true?

CDB199

Just wanted opinions on the Chelsea 3yr 1.99% (60% ltv) and the 2yr 1.74% fixed mortgage currently available.

It has a fee of some £1545 which seems a little high and think it would negate the benefit of the lower rates.

I am looking to remortgage in September and juggling idea of booking this in soon against a simple mortgage closer to the time with a higher rate but next to no fee.

Thoughts?

My figures for opinions:

28 yr term
Borrowing £171k
Value of prop £295k (so inside the 60% ltv)

Is there anything on the market with low fee but higher rate that wouldn't be any difference on the monthly repayments yet not give me the large fee to pay upfront or lump on top of the mortgage.

Thanks in advance

Thrugelmir

CDB199 wrote: »

It has a fee of some £1545 which seems a little high and think it would negate the benefit of the lower rates.

The fee is high. As they are looking to lend to fewer customers who have larger than average mortgage requirements.

Check the follow rates. Don't assume that remortgaging when the product term ends will be that easy.

CDB199

No other thoughts then people?? Surely a few advisors on here with mortgage pointers for me