📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

2,3, or 5 years remortgage.

Hi All,

Mortgage expiring soon 1st April and due for remortgage.

What do you reckon, 2,3 or 5 years thought rates would have dropped further but now the Iran war.

Thinking 2 years fixed no product fee or 5 years with £999 product fee or 3 years with product fee of £999.

Virgin money

2 Year Everyday Fixed

No product fee 4.04%

£999 product fee 3.72%

3 Year Everyday Fixed

4.15% no product fee

3.8% £999 product fees

5 years fixed

4.02% no product fee

3.89% £999 product fee

Comments

  • Exodi
    Exodi Posts: 4,953
    Ninth Anniversary 1,000 Posts Hung up my suit! Home Insurance Hacker!
    Forumite
    edited 9 March at 2:07PM

    The question of whether a product fee is appropriate is impossible to comment on without knowing the mortgage balance. It usually doesn't make sense on smaller mortgages, whereas it absolutely does on bigger mortgages.

    Personally I plan to renew on a 2 year fix again, but this is just speculation, my guess is as good as yours.

    Know what you don't
  • london21
    london21 Posts: 2,253
    Fifth Anniversary 1,000 Posts Name Dropper
    Forumite

    About £260,000 left

    2022 wished i went for 5 years but now unsure remortgaged 2024 at 4.72%

    2 years will be without mortgage fee and 5 years will be with £999 fee.

  • RelievedSheff
    RelievedSheff Posts: 13,207
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    Forumite

    We have opted for a 5 year fix at 4.04%.

    Really can't see mortgage rates coming down much in that time.

★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 355.9K Banking & Borrowing
  • 255K Reduce Debt & Boost Income
  • 456.2K Spending & Discounts
  • 248.4K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 179.1K Life & Family
  • 263.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.7K Read-Only Boards
Quick Search

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.