Remortgage Buy-To-Let Options

Xstyle

My IFA has provided these figures for 131k mortgage interest only, over 23 years.

1. Alliance & Leicester 2 year tracker 5.74% .
£350 valuation fee, £999 arrangement fee added to loan. You pay legal fees (c. £400). = £631 p/m (with £750 fees to pay upfront, which works out to be extra £31 p/m over 24 months = £662 p/m)
(Total fees = £1750)

2. C & G 2 year tracker 5.99%.
Free valuation, £99 booking fee. £799 arrangement fee added to loan. You pay legals (c. £400). = £658 p/m
(with £500 fees to pay upfront, which works out to be extra £21 = £679 p/m)
(Total Fees = £1300)

3. Bristol & West 6.15% 3 year tracker until 31/08/2010.
Free valuation, free legal fees. £399 arrangement fee added to loan. £195 fee deducted from loan advance. = £673 p/m
(Total Fees = £399 - £195 = £204??)


The added benefit with #3 Bristol & West, is that it is a year longer that the other 2 options, which means (only) 1 more year of fee free mortgage?? ... but it has the highest interest rate...

A&L is slightly cheaper over the 2 years ... but has more upfront costs... which I'm not really fussed about... whichever one gets me the best outcome over the long term, during tie-in periods. Will remortgage always...


Which mortgage to go for??? #1 or #3?


p.s.
Come across Beaumont Legal, via Web-Conveyancing site, that charges just £180 + vat for conbeyancing!!! (plus the other minor disimbursements)
http://www.web-conveyancing.co.uk/remortgage_quote.asp
http://www.beaumont-legal.co.uk/contact/
(cheaper via first link)

Xstyle

sorry!!!!!!!
new to the mortgage forums here ... please delete this thread, a sI have set it up in the correct place over in the Mortgage Board


http://forums.moneysavingexpert.com/showthread.html?p=6645202#post6645202


Thanks!
-X-