Help with mortgage deal

rkc86

Hello

My 5 year fixed rate is ending in April and I don't know what to do so I am asking for advice from this lovely community.

Here are some of the details:

Balance - £36,071.36
Term - 15 years & 3 months
Repayment type - Capital & Interest

I am with Natwest and here are the available options for me:

Product type / monthly repayments / initial rate / % above base rate / rate expires / rate reverts to / overall cost for comparison / product fee

2 year fixed / £224.56 / 1.74% / NA / 30.06.2018 / 4% / 3.8% APRC / £995

5 year fixed / £237.78 / 2.53% / NA / 30.06.2021 / 4% / 3.6% APRC / £995

2 year fixed / £237.95 / 2.54% / NA / 30.06.2018 / 4% / 3.8% APRC / £0

5 year fixed / £247.61 / 3.10% / NA / 30.06.2021 / 4% / 3.7% APRC / £0

2 year tracker / £222.92 / 1.64% / 1.14% / 30.06.2018 / 4% / 3.7% APRC / £995

2 year tracker / £236.25 / 2.44% / 1.94% / 30.06.2018 / 4% / 3.8% APRC / £0

I am currently paying £276.86 monthly on 4.79% interest rate. Are these available options good or should I shop somewhere else or find a mortgage broker?

Many thanks

getmore4less

What is your LTV?

How much can you afford?

getmore4less

call it £36k and paying £275, starting beginning April 16

fix 2y 3m 30/6/18
£36995 1.74% £30904
£36000 2.54% £30482

fix 5y 3m 30.06.2021
£36995 2.53% £23737
£36000 3.10% £23566

tracker 2y 3m 30/6/18
£36995 1.64% £30826
£36000 2.44% £30405

No fee is cheaper on all deals
the 2y fix is a £77 cost to hedge against a rate move.

csgohan4

go through the MSE best buy tables and see what is the current market deals and either go through a broker, or if you feel lucky direct.

rkc86

I say my LTV is 33%. Can afford all rates but not sure on fixed, tracker or any of the deals.

getmore4less

With a LTV allready in the lower range the best deals are already available so you do not need to factor in that a better LTV may happen is a year or three.

You need to look at your goals as it could infulence the choice,

eg:
do you want to overpay and get rid of the debt quickly or are you happy to let it run the term(would you hit overpayment limits on a fix).

Are there any potential changes in circumstance like pay or wanting to move.(fixing for 5 and moving in two probably not a good idea)

Do you have a upper limit you can afford so need to consider rate rate rises

....