coming to end of fixed deal

adamcarvell

when you factor in the arrangement fee divide by 5 years makes you think if its worth switching lenders.

adamcarvell

its hard to know what to do reduce the years from 16 to 14 paying roughly the same as we have done last four years or stay on same years reducing monthly payment by about £50. as over the 16 or 14 years left the difference is £4k.

Hughesy84

adamcarvell wrote: »

do the rates change on a daily basis as told by a santander representative or was it a sales pitch to gt me to sign up there and then ?.

Highly unlikely unless he knew an offer was being pulled.... but id always have my doubts.

Rates are likely to be very similar even if they do change, until the likelyhood of a bank of england interest rate rise is more likely.

dimbo61

Hi Adam,
You have paid your fixed mortgage at 4.79% for the last 3/4/5 years without any problems?
If you can afford too then keep the payment the same! You pay less interest to the lender and get the debt cleared quicker and save £4000.
As for moving lender ( I am with the YBS and love the OFFSET mortgages) you only owe £72,000 and a fee of £995 even spread over 60 months works out at £16.58 a month.
You will have exit fees from your existing lender and possible fees for remortgage Legals, survey, searches, Chaps fees etc .
It all adds up so consider the deals from your existing lender carefully

adamcarvell

yes im beginning to think the 3.29% is the one fixed for five years unless the rates changed as she said tomorrow might be different .is it worth phoning regularly?.

adamcarvell

how often the rates go up and down ? the person I spoke to said daily ? so whens the best time to call daily till it drops a bit or once a week ?. got till April the 1st.

Yorkie1

Bear in mind that YBS have a comparatively high SVR follow-on rate.

adamcarvell

Santander go's up to 4.99 svr. back to the deal they offered as they told me the rates change all the time were they playing me ? how you gauge when to take a deal ?.

Daddy942

Just fixing my mortgage as we speak

5 years @ 3.19 % with a 99 fee

Worked out it would have been slightly cheaper with Yorkshire bank but they have some funny lending criteria for the posistion we are in

oh and current SVR rate after the fix is 3.99%

adamcarvell

Daddy942 wrote: »

Just fixing my mortgage as we speak

5 years @ 3.19 % with a 99 fee

Worked out it would have been slightly cheaper with Yorkshire bank but they have some funny lending criteria for the posistion we are in

oh and current SVR rate after the fix is 3.99%

who with Santander ?.