Best re-mortgage product? What Mortgage Store have come back with.

Kilometres101

This is my first rodeo on the forum, so bear with. My situation is pretty straight forward. I am looking at a 2 year fix and have been advised to stay with Nationwide.

The product that I am being advised on: 

Interest Rate: 3.84%    Product Fee: £999. Monthly Payment: £841.19 (if paying product fee upfront) or £846.35 (if adding product fee to the loan)

I asked about the product without the fee: 4.29% and monthly payments would be around £881.87

This is the first time I am re-mortgaging so want to check if I am calculating correctly. Feel free to lambast me if not.

product with fee upfront: 24x 841.19+999=21187.56

product with fee baked in:24x846.35=20312.4

product without fee 24x881.17=21164.88

Am I correct?

born_again

If you are staying with the same lender, just contact them & say you just want to do a rate switch as your fixed term has ended. You then do not have to go through financial affordability assessment.
It is straight forward.

Kilometres101

Appreciated. I should have said, these are the current lender products.

Typhoon2000

Those calculation look right. Don’t forget to check out how much mortgage would be remaining at the end of the 2years. The no fee option will leave you with largest mortgage remaining after2 years.
if you are staying with the same lender you will be doing a simple rate switch rather than a whole remortgage.