mortgage questions

stolt

currently with first direct which was fixed they have sent me a letter stating i can stay on the SVR or the following deals are availiable to me

600khouse, 33000 mortgage left.

I want to borrow another 35K for a car(i know but im getting on a bit and just once want to own a sports car, doing up the house, children etc and paying off the mortgage to get it to the level we are at now.

First direct
33000 mortgage
5yr fixed deals based on current mortgage
2.14% no fees, - gbp 157 a month, gbp8,400 interest

1.99%, gbp 490 fees - gbp 157 a month, gbp7,898 interest


65000 mortgage
2.14 no fees - gbp309 a month, gbp 16,545 interest
1.99%,gbp 490 fees - gbp 307 a month, gbp 15,446 interest



ive had a quick check on comparison websites and nothing is leaping out to me on the rates, ive usually fixed for 5 or 10 years while doing the house up. And the next few years could be expensive, one daughter just about to leave school and then shortly followed by another two in 2 to 4 years.
sort of stuck on what to do for the best

Thrugelmir

How many years are you intending to repay the car over?

stolt

Thrugelmir wrote: »

How many years are you intending to repay the car over?

I was going to put it under the same length as the initial mortgage 22years as intend to overpay in in the next few years

foxy-stoat

Pay the extra £2 a month and don't pay fees.