2,3, or 5 years remortgage.

london21

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

Exodi

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.

london21

https://forums.moneysavingexpert.com/discussion/comment/81915729#Comment_81915729

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

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

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