Remortgage

tali

Broker is offering for me no -obligation secure the following rates for remortgage(current deal ends in October)
2yr fixed 5.95%
3yr fixed 5.85%
5yr fixed 5.85%
Tracker 2 yr 6.15%
All have £1000 arrange fee
What to members think? -advise appreciated please

Tiddler_2

Depends how large your mortgage is, to justify a fee of £1000.

Rates seem reasonable for free legals/free val cases.

tali

Mortgage is 97k and yes free legal/free val

maninthestreet

3 or 5 year fixed at 5.85%, unless you think the BOE base rate will drop to lower than 4.7%.

Tiddler_2

Well if you intend to stay in the same house for the next 5 years then the 5 yr fixed rate offers better value for money, if rates don't go down.

However choosing a fixed rate over a tracker rate is down to what is important to you. If rates went up by 0.25%-0.50% then would you be able to afford the payments? if not then fixed rate is best.

Woodgnome_2

Hsbc Life Tracker 5.63% 999 Fee Max ltv 90%
Hsbc Fixed 3 or 5 year 5.98% 499 Fee Max ltv 90%

Mansfield Bs Discount 5.65% 599 fee Max ltv 75%