Remortgaging

[Deleted User]

My fixed rate mortgage is up for renewal in October and reverts to markert rate (santander). I am not sure whether to go with a fixed rate or a tracker but am a bit shocked at the fees. A mortgage broker has offered me a choice of two mortgages both fixed fee one for 2 years and one for 5.

1) 2 year fixed is 1.94% rate

2) 5 year fixed rate at 2.88%

Both deals have a £999 arrangement fee that can be added and both have free legal service and free valuation. Both have a £250 booking fee upfront.

I have 16 years left on my mortgage but why would someone like me need free legal and a free valuation? (Ok, understand the free legal of transferring to a new mortgage although it is to Santander who are already my mortgagors!).

Seems like a lot of money and I'm a bit shocked at the cost of it all. What do other people think?

What do other people think? I'm paying £425 at moment and would be paying £363 (1.94%) and £390 (2.88 %) respectively but the fees would need to be added to my mortgage.

Would like to hear other people's thoughts and thanks in advance. Presume the advisor's advice is good but seems a bit steep.

Thrugelmir

Have you approached Santander directly yourself to what they would offer you?