Is this a good deal

Beatle_Ray

Hello,

My current mortgage deal with the Halifax is coming to an end at the end of this month, in the first instance I went to a broker to see what he could get me, at the moment the deal with the Halifax is 2.1% which has been over two years and the payments are £836 pm, I make over payments of an extra £80pm, the following is what I have been quoted,


2yr Platform 1.69% £914.52 NoFees

3yr Barclays 1.79% £920.29 NoFees

5yr Coventry 1.99% £931.89 NoFees
The % is lower in every case but the repayments are higher, should I take one of these or go back to the Halifax and seek a replicate deal?

YHM

If the interest rate is lower, but the repayments are higher, than the mortgage term (length) has been changed.

Halifax wont rate match, and they aren't particularly competitive at the present either

Beatle_Ray

Thanks YHM, I hadn't changed the term time, there are 13 years left currently unless he did that without telling me, would it be that with the slightly lower % that i'm actually paying more, £836 currently as opposed to £914 for the two year deal?

YHM

What figures are you basing it on. Valuation and Mortgage balance. I'll have a look

Beatle_Ray

£128,000 mortgage balance and house valued at £391K