Mortgage renewal decision

bikeman17

Current with natwest, 2 year tracker due to end july 31st. Two years ago I paid 995 product fee, this year I cannot do that.

Residential mortgage with consent to let.
49% ltv
29yrs left

Currently on 1.79%, logging online they are offering me
2yr tracker 2.44%
5yr fxd 3.10%
2yr fxd 2.54

Are these the best deal for me or would I be able to get a discount if I call or go to a branch.

amnblog

You are fortunate to be offered such attractive options on consent to let.


Going into Branch will not get you a discount, but it might get you a headache.

Boredatwrork

Norwich and Peterborough

FEE FREE

Based on a 65% LTV
New cusomers
Fixed:
2yr 1.89%
3yr 2.24%
5yr 2.54%

SVR at 4.99%, is not competitive I grant you, but looking at what you can then transfer for a one off £70 fee (nothing really against the savings compared with others):

Existing customers,
Fixed
2 yr 1.94%
3 yr 2.39%
5 yr 2.70%

Which are also all very good.

They also allow you book it in for up to 6 months ahead, and the term starts from the day of the mortgage, which means a 2 year term is a full term, which some other lenders don't offer.

*Just dont sit on the SVR, at the end of the term.

amnblog

Our poster is not even living in the Property so will not get a residential deal from another Lender.

Boredatwrork

Missed that crucial nugget (apologies)

Phil_H_MLIA(dip)_Cert_PFS

As above, the "issue" is not the rates you think are available but the matter of the consent to let. Most lenders issue these on a very limited timescale - and some charge a fee every time/renewal.

Generally speaking, there are bigger concerns than rate in this type of scenario - you should be also be factoring in your "mortgage shape" and tax position, especially in light of the changes occurring there over the next 3 years.