Remortgage help please

321p123

Shared ownership property  
Own 70 percent so 171500 of full value 245000
Mortgage 106000 left
29 yrs term
Santander sent me fixed rate of 2.79 or 2.69 offers, I'm currently on 1.74 rate but ends soon so can lock in early.

How do these rates sound? I heard you cannot get fixed rate deals for under 2.1 now? But using mse comparison small lenders seem to offer 1.5 percent which would really reduce my payments but is there a catch ?

Thanks for any help!

K_S

@321p123 Assuming the Santander products come with no product fee, the rate sounds decent. Can't say whether it's the "best" rate available to you in the market but it's unlikely to be too far off.

With regard to the rates you've referred to, I don't think the MSE mortgage finder allows you to filter for Shared Ownership products and the 1.5% ish rates offered by the smaller building societies are probably discount/tracker products, not fixed rates.

321p123

Ty for the reply, the 2.69 has a 999 fee but 2.79 Is fee free !

simon_or

J_Wilko said:

Those rates do sound pretty good but its always worth considering the whole-of-market when you plan to remortgage, just in case you're missing out on a better deal. Promise Money has a page on shared ownership with a section about remortgaging on a shared ownership property. Type in "Promise money shared ownership" into google and have a look around their page to see if you can find any helpful information.

Hope this helps

Are you 'Promise Money'? Forgive me for being cynical but your post history appears to mostly consist of pointing forumites towards their website.