Multi-part mortgage fixed rate coming to an end

powerbarge

I currently have a mortgage with YBS which is in 3 "parts" due to porting across from 2 previous properties. I did this in the past as I moved quite suddenly whilst being in long fixes and it was more cost effective than shouldering early repayment charges. In my experience the rates from YBS have been roughly in line with other banks so I hadn't really bothered shopping around.

One part of my mortgage has a fixed rate due to expire in October this year, with the second part coming up for renewal (from memory) April 2024. The Third and final part has a long time left so I hope we will be the other side of the current base rate horrors.

I have 2x options (as I see it):
2 years fixed rate at 6.22%, with a 2.5% early repayment fee in the first year, 2% in second
or 
2 years tracker at BOE + 0.58%, 1% first year and 0.5% second year early repayment charge

There are other longer term options but I can't see those being cost effective and have huge early repayment charges

I am leaning towards the tracker as the exit fees are much lower and (polishes crystal ball etc) I cant see rates going above 6%, which worst case at 6.58% wouldn't be much worse than the 6.22% fix

How's my logic? I did see other banks offering slightly better rates but as around 50% of my balance is on the longest fixed rate part (expires some time in 2027) so I think it is not worth trying to move provider..

dimbo61

It would be helpful if you gave the outstanding balance for each part of the mortgage to try and work out which is the best deal.
However you have 50% of the balance on a long term fix with a big ERC charge  ?
You might have to bite the bullet and stick with YBS but if possible try and overpay the most expensive part and may sure YBS know which part of the mortgage you wish to overpay.
Do you have savings to reduce the outstanding  debt or Pat off part of the mortgage ?