Help needed with Remortgage

jimbovernon

Hi,

My current mortage deal ends this month so need to change, currently with YBS and want to stay with them.

So I need to choose a new deal.

I have narrowed it down to 3 options

1) Fixed for 2 years @ 6.39%. Monthly Prem of £965
2) Stepped Fixed for 2 years @ 5.99% then 6.79%. Monthly Prem of £905, £1025
3) Offset fixed for 2 years @ 5.94%. Monthly Prem of £901 (if include Product fee in loan)

So it seems to me that even if I don't pay anything into the offset savings account it is the cheaper one????

Am I missing something, any help will be much appreciated.

jimbovernon

Hi,

Can anyone help with this?

Thanks in advance

James

[Deleted User]

The third option does seem better, it makes me think that there is a catch.
Why do you want to stay with them?

jimbovernon

I've looked on the website but can't seem to find any catches

I have a secured loan which would have to be paid off if I moved mortgages companies.

If I just remortgage with YBS then the secured loan can just carry on

17Dave

Option 3 of those choices must be right as it is clearly the cheapest over the 2 years.
Usually you have to open an account to use for offsetting but are not obliged to put money in it. (Check out the posts on offsetting- it may be in your interest to use the facility)

If you remortgage it could be for the whole amount - mortgage and secured loan. This may be a cheaper option.