Is this a good mortgage for 37% LTV?

Tr33house

I wanted to pick the brains of the expert forum visitors, is the mortgage I am waiting on a good deal?

I have used a broker - and I did check with other brokers too - and they came back with the same rates.

2 year fixed at 6.27% from Barclays for £116k which is a 37% FTV. Barclays did lower rates last week and the broker has requested the lower 6.12% that was available when I accepted the offer. Now I am waiting on a formal offer letter. That is £755 pm or £742 at the lower rate if accepted.

The idea behind the 2 year fixed (without fees) is because I hope that by September 2025 we will see lower interest rates so the remortgage would be a better deal than a longer fixed term (although that’s an educated guess which could be wrong).

The property offer is £317,500 and a £200,000 gift from parents.

Does this look like the best option?

TheAble

Monmouthshire BS are doing 5% over 3 years with a £481 fee. Noted your comments about lower rate expectations but for the sake of one more year I might be more tempted by this. 

If you definitely want a 2 year then Principality BS appear to be doing 5.9% with no fee. Otherwise, the one you have selected looks to be a fair price.