Am I missing something blindingly obvious?

getmore4less

jolester wrote: »

Thanks for breaking this down for me

The term would be over 32 years (initially)

The rate for 90% was 2.2%
The rate for 95% was 3.89% + 250 Cashback

not a bad guess then

real numbers.

£409,500 @ 2.20% £1486pm £391,477 £17,641
£432,250 @ 3.89% £1970pm £418,078 £33,108

You start off with £22750 in the bank and diffence in what you owe net Zero.

End up with a difference of £26600 in what you owe but have use up £11616 of the money paying the difference leaving only £11,134 in the bank net loss around £15k worse off doing it that way.

which is the same as the difference in interest paid as you would expect.