New five year fixed deal
isadreamalie
Forumite 42 Posts
I've done a product transfer with Santander, my existing bank, for a new five year fixed deal starting in November.
My current 5 year fix is 1.99% this will be 2.59% and seems reasonable given under 2% is now impossible?
I have roughly 125k of debt remaining. My monthly payment goes up by about 37 pounds. I paid a product fee of 999. Possibly screwed up here as they also offer a 5 year fix at 2.79% with no fee however the lower interest and lower monthly payments appealed to me and I had the savings to pay it... I do overpay but I'm aware as it's 10% I won't be able to overpay as much as the debt drops but given interest rates are rising and I won't be mortgage free for seven years at the earliest it didn't seem a bad deal . At least if I don't overpay I have a lower monthly payment...
I was trying to see if there's a mortgage overpayment calculator that takes into account the 10% overpayment allowance ? No point putting a thousand a month on there if that would break your allowance
My current 5 year fix is 1.99% this will be 2.59% and seems reasonable given under 2% is now impossible?
I have roughly 125k of debt remaining. My monthly payment goes up by about 37 pounds. I paid a product fee of 999. Possibly screwed up here as they also offer a 5 year fix at 2.79% with no fee however the lower interest and lower monthly payments appealed to me and I had the savings to pay it... I do overpay but I'm aware as it's 10% I won't be able to overpay as much as the debt drops but given interest rates are rising and I won't be mortgage free for seven years at the earliest it didn't seem a bad deal . At least if I don't overpay I have a lower monthly payment...
I was trying to see if there's a mortgage overpayment calculator that takes into account the 10% overpayment allowance ? No point putting a thousand a month on there if that would break your allowance
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