2 mortgage accounts on one property

dimbo61

https://www.barclays.co.uk/mortgages/existing-customer-centre/mortgage/#_

Above is the link to Barclays Existing Customer deals.

http://www.whatsthecost.com/mortgage.aspx

If you use the above link to Whatsthecost you can work out what is the best deal.
It is not just a case of X costs £866 a month and Y costs £893 but what you OWE after 5 years.
Any problems just ask and we can go through the details if you want ?

longwalks1

dimbo61 wrote: »

https://www.barclays.co.uk/mortgages/existing-customer-centre/mortgage/#_

Above is the link to Barclays Existing Customer deals.

http://www.whatsthecost.com/mortgage.aspx

If you use the above link to Whatsthecost you can work out what is the best deal.
It is not just a case of X costs £866 a month and Y costs £893 but what you OWE after 5 years.
Any problems just ask and we can go through the details if you want ?

Thanks again Dimbo, had a look (finally managed to log in) andthere are 2 that i like the look of, for the balance of £125,393.

5yr fixed 1.65% £899 fee
5 yr fixed 1.95% £0 fee

I cant remember how to work out which is cheaper, taking in to account the set up fee?

longwalks1

Also, my mortgage has 15 years and 1 month to run, and i moved house on 14 Nov 14.

If i apply for this new rate offered by Barclays, they wont sting me for ERC for 1 month will they? I'm assuming this offer is for my mortgage to switch to once the current fixed period ends?

Thought I'd ask as didnt want to find a good deal, then be hit with a 3% ERC for 1 month (or however it works)

dimbo61

The new deal would only come into effect at the end of your current deal so No ERC,s
Working on 15 years, balance £125,393 and the 2 deals you are looking at
The fee free deal at 1.95% works out about £200 cheaper.
Please check yourself with whatsthecost
You would owe about £87,000 by November 2022 so if you can overpay

1.65% balance £125,393 +899 = £126292 payment £792.51 each month and you would owe £87,614.47 by 2022 Oct
1.95% balance £125,393 Mortgage payment £804.03 each month and you would owe £87,594.91 by October 2022
So you are only saving £11.51 a month times 60 months so £691
Only £20 difference between what you owe in 5years

longwalks1

Thanks (again) Dimbo61, you're a star! Applied to switch this morning and now all sorted, perfect