Anyone good with numbers - remortgages!!

thenap80

Hi
I am at the end of my C&G fixed rate mortgage and am unsure what to do now. I cannot stay with their SVP 'cos it is sky high.

I am looking at th efollowing two options but do not know which would work out cheaper in th elong run. One involved staying with C&G. The other remortgaing with Nationwide...

C&G. Fixed rate for 3years. 6.19%. No product fee 'cos I with them already!
Nationwide. Fixed for 5years. 5.63%. £499 product plus valuation I guess etc.

Can ayone look at this and say whether one is clearly more ideal than the other! I want to make ocverpayments as much as possible. I have a 90,000 mortgae left and was thinking having a term of say 12 years.

Many Thanks
Barry

chappers

Its abit hard to say over 12 years as it's hard to say what the situation will be when you come to the end of those deals but over the 3 years of the C&G deal.
Based on an interest only mortgage for £90K the Nationwide would be better by around £800 assuming a valuation fee of £200.
However you should take into account the etra time you could be stuck on the SVR and that could negate the point in changing. ie: 4-6 weeks to change to Nationwide, probably just over aweek to take another C&G product.