Shared Ownership - Customer Retention Product with Santander

F1_Nut

Hi all,


My current 5 year fix of 4.59 end's with Santander in a few months which is for 50% of the property.

I have called Santander to see what new fixed rates are available, which they came back with the following

2 Year fix - 2.99 product fee of £999
2 Year fix - 3.29 no product fee
3 Year fix - 3.49 no product fee
5 Year fix - 3.79 no product fee

I am looking at purchasing the rest of the 50 % within the next 1/2 years, I asked about early repayment charges etc if I wished to staircase and was advised there is no fee as the new amount (subject to affordability) would be a new loan under a new rate.

So my question is for future proofing against rate rises would it make sense to fix for the 5 years as there is no product fee and no early repayment charges if/when I staircase?

I'm not looking to move from my current property for years to come as my wife and I love the location so a 5 year fix seems the right thing to do but just wanted other people views.

Would having in two loans at different rates affect me remortgaging to a new provider along the line?

Many thanks