fee free mortgage?

Crazy_Saver

MiM wrote: »

I'm already with Brittania and need to switch as current deal is ending. Just phoned and they say the above deal has gone. Best they can offer me is 5.99% plus £399 arrangment and £100 admin, five-year fixed.

They did offer without fees too but at 6.34% so the monthly payment would actually be £3 more than just accepting the fees and adding them on, so sounds daft to me.

I owe about £42,000 with 13 years left to pay on a house worth £150,000. Also, I might move soon and would not have to pay for porting the deal, which is important to me.

Does the above sound like a decent deal? I know it depends what you want but I just want a good deal. Would also be nice not to have to go through bother of moving building society, plus you get the members' bonus cheques from Brittania every year.

Any thoughts much appreciated.

Hi MiM.

Looking at the figures you've been quoted, the fees free seems to work out much cheaper.

£3 pcm X 12 X 5 = £180
£399 + £100 = £499


Or am I reading this incorrectly:o


Regards

Crazy Saver

MiM

Can't work it our CS, my head's hurting. But does the deal sound good generally?

Belfastbelle

What rate should we be concentrating on here? The Percentage or the overall APR?