Is 5.5% discounted a good deal

DavidRossitter

I am about to remortgage and have found a 5.5% 2 year discounted rate that will cost me £15 in total to move to. No lock in both during or after the 2 years.

My mortgage is going to be £250-300k. Have <50% loan to value, pretty good credit history and ok salary so think am in a strong position.

I see there are lower discounted rates but from what I can tell the signing up fee wipes out any saving.

I believe rates will edge gently down over the next few years - not massive but slightly down. So am edging towards discounted/tracker rates.

Anyone know of a better deal out there at the moment - I cant seem to find one.

Any help appreciated.
Thanks

monkeyclipper

I am in a very similar situation- the best I could come up with was 5.64% for 3 years with a £700 admin fee with cheshire bs- who is your deal with ? i am agonising over repayment or an offset- 5.94%- i have 30k to offset

DavidRossitter

Its the Cambridge Building Society. The arrangements fees are very low as we have held an account with £100 in for 12months. But I dont recall their fees being that silly. They have several deals on at the moment.

Hope that helps

David

apk1

if you qualify, and if you are in area then Cabridge deal is superb.