Mortgage Split into 2 sub accounts one with good deal other not!

cookie666

I have a mortgage with TSB

It is split onto 2 sub accounts

1 part has £60500 which tracks at 1.25% above Bank of England

2 part has £122500 which is fixed until Nov 17 at 4.09%

Obviously, need to get this changed have seen a decent rate of 1.14% fixed until 2019 with HSBC then 3.69%

However, I'd rather not lose the 1.25 tracker, anyway to split it with 2 companies?

TonyN1

Unfortunately for a new lender it will be all or nothing, the 1.14% does seem attractive however I imagine that there will also be fees with this and I assume that the 1.14% will be only for 2 years rather than the 1.25% for the term of the loan like your tracker. It would be worth working out the total cost you will pay in interest over the term of the loan with both deals, otherwise have a chat with a broker they will be able to calculate the best option for you.

cookie666

Thanks for the reply, I'd feared that would be the case, I'll get chatting to a broker and see what they say.

Fees were involved (£1,262) and 1.14% was fixed for 2 years.