New deal time...Any advice

marbar2k

hi everyone, been in my house 2 years now and my fixed rate ends on 31/07/14.

I'm currently with natwest (my bank). I purchased for £160k 2 years ago and I currently owe £101.5k which gives me a LTV of 63.59%. My current rate is 3.49%, and ill have 23 years left.

This is the first time ive ever renewed my deal so I'm after some advice. My aim was to always get to 60%LTV to get better rates. I can pay in the £5k no problem to get to this bracket no problem, but is it worth doing?

Staying with natwest I can pay nothing in and get a rate of 2.99% or pay the £5k off and get 2.89% is this worth doing?

Also what other fixed rate offers are out there, how do these natwest deals stack up? Is it hassle to move providers with legal fees etc?

ACG

Just diong a quick search, under 60% ltv, there are lenders with around 2.3-2.4% available.
At 65% around 2.2%.

Possibly less if you dont want to fix it.

But rate is only half the story, you then have fees to take into account and whether moving lenders is worth the hassle of saving however much it is you will save - only you can decide that.

marbar2k

thanks for that. i know you cant give the answer but for the sake of say £5/£10 per month is it worth moving provider?

How do the rates im being offered sound, they are all fee free.

ACG

I can answer the question but it would be my opinion only.
Only you can answer the question for yourself. I think it will be more like £30 a month give or take.

The rates i found may have fees, i just did a really quick search so im not 100% whether they did or not.

dimbo61

Why are you looking at another 2 year deal ?
Are you going to remortgage or change deals 12 times over the 25 years MOST mortgages last.
Rates have never been this low and now maybe the time to look at a 5 or even 10 year fix at 60% LTV.
Unless you can make big overpayments each month ?
You put down a large deposit but have paid little off the outstanding balance in the last 2 years