Tools to work out the best mortgages?

Benson

Our 2yr Fixed rate mortgage is coming to an end 01.06.08 of 4.99% (10 yrs to go) we have just gone through the application with the Abbey to continue with them and theyve now offered us 6.09% with a £299 fee for 5 year fixed.

Is there a tool that can advise you which mortgage will cost you the least overall as i get confused with the different rates and then adding the fee on top etc

Also the HSBC offer, does that just match your current mortgage balance as we wanted to increase the mortgage to build an extension which the abbey have agreed to no probs but it just doesn't seem the best rate

(Both my H and I are S/e so we went with Abbey thinking it would be easier to renew without the application process again etc)

Any advice?

cold-mummy

hi
i found this one
www.thisismoney.co.uk/calculators
hth

KTF

I have a spreadsheet that shows you the difference. If you want it, send me a private message with your email address in it and I will send you a copy.

Gorgeous_George

Or you can try mine.

Don't sue me if it doesn't work out!



GG

gobbosly

Hi Benson

The HSBC seems a good option for you at present. They will match your existing 4.99% fixed rate for 2 years. They will also offer a loan (4.99%) for your extention.

The booking fee will be calculated on your remaining mortgage amount plus the loan (for extension). eg a combined mortgage plus loan of say £130,000 at 4.99% will cost you £999. The HSBC website allows to to model different amounts of borrowing.

If you have any HSBC account you can apply now otherwise a week or so later I think. I am switching to them at present myself. Don't phone them after 6pm as phone lines will be jammed.

Good luck