fix ending in august

fh97

I am looking into mortgages as my fix is ending in August. 4.86

I have looked at HSBC £133,000 2year fix at 5.09 with £999 fee is this better than 2 year fix 4.86 with £1599 fee.

can someone please tell me the total cost of the two above mentioned, also what total overall interest rate these equate to with the fee included ?

thanks

_Andy_

No-one can say which is 'better' because we don't know what your preferences are (e.g. lowest initial rate, lowest initial cost etc).

You can work out the total cost over two years but adding up the repayments etc.

We won't be able to do this for you as you don't mention whether this is capital repayment or interest only, or (if capital repayment) what the mortgage term is.

fh97

Hi

My preferences are lowest initial cost.

This is also based on capital repayments with interest calculated monthly.

Gorgeous_George

Assuming the fees are added to the mortgage,

The first one costs £790.39 initially. The second costs £775.91.

At the end of the fixed periods you will owe £125,384 and £128, 794 respectively (but the latter is after just 2 years).

If rates stay high (above 4.9%ish), the longer initial fix is cheapest over 25 years.

GG

barnaby-bear

fh97 wrote: »

I am looking into mortgages as my fix is ending in August. 4.86

I have looked at HSBC £133,000 2year fix at 5.09 with £999 fee is this better than 2 year fix 4.86 with £1599 fee.

can someone please tell me the total cost of the two above mentioned, also what total overall interest rate these equate to with the fee included ?

thanks

http://maggenhoof.co.uk/mortgage/

This will compare the two for you and the effects if you pay up front or load fees on mortgage.