which rate?

Laura1980

I have a query and wondered if anyone could help!

We currently owe £97,300 and are coming to the end of our fixed term.! We have 2 different rates to consider and wondered if someone could advise which one is the best option for us:

first option:! 2.65% with £999 added on, paying £549 a month
second option: 3.05% with no fee added on, paying £563 a month

We ideally want the option which means more has been paid off the mortgage after the next 2 year fixed period is up.! Any assistance would be greatly appreciated!!

Thanks,

Laura

fiffio99

take the 3.05% rate, will be cheaper over the 2 years. £14 x 24 is only £336 over 2 years so comfortably less than the £999 fee

If your fixing for the next 2 years try to increase the standard payment each month to the max you can afford and reduce the term. Will save you in interest and a year of the term might only be an extra £20 a month or so.