Keep tracker mortgage or fix for 2-5 years

Mortgage_groundhogday

I have a £210000 mortgage on my residential property on a £1.29% tracker for another12 months . I want to take some 80K additional borrowing to pay off another BLT property ( total of £290 K should be just <60% LTV) . Should I remortgage the total with a  2- or 5-year fix ( and lose the 12 months left on the tracker mortgage, for which I pad a fee a year ago) or shall I keep the tracker and find the money for the 80K some other way? Grateful for suggestions

getmore4less

Current lender?

Mortgage_groundhogday

Santander - 

getmore4less

They customize rates so you will need to tell us what they are offering you for additional borrowing keeping the tracker or new lending for the full amount

Why the 2 year tracker a year ago.

Mortgage_groundhogday

Many thanks
The tracker 2years ago was for the flexibility ( wasn't sure if was going to sell the BTL hence pay off a large chunk of the residential mortgage) and 1.19% above base rate seemed a low rate . We've decided now to keep the BTL.
They are offering 1.29% for 5 year fix for  the whole amount ( made up of two chunks, additional loand and replacement loan) with a £999 product fee. However I've realised their ERCs seem to be some of the largest on the market at 5% until the last day of the fixed term.

dimbo61

So that,s  a brilliant rate and long term security However have you got any plans to move from your family home in the next 5 years ?
Not sure what rate your paying on the BTL mortgage ?
You can offset the £80,000 against your tax ( well 20% rebate ) and the Fee !
I love offset mortgages 
How much extra does the £210,000 mortgage cost at 1.29% FIXED for 5 years compared to 1.19% Tracker which runs out in 12 months !
Can you overpay by 10% ?
I am willing to bet your paying 2.5/3% plus for the BTL mortgage.
Don't let the Tax tail wag the dog.
Cheapest rate you can get is the best way to borrow money