I have two mortgages to pick from.
One is a rate of 2.15% above base rate, the other is 1.99% above. Both fees are around £800 which is good just now.
This equates to around £50 a month difference between the two (or £30 on the Interest Only aspect).
The 1.99% route means that the interest only mortgage will be reviewed in 10 years, when they may make it mandatory to go to repayment for the remainder of the term.
Is this a big deal, or, should I keep it clean for the offer in hand for the 2.15% option?
I don't know of any 70% ltv mortgage better than 1.99 above boe base rate tracker (lifetime), but if you do, please share.....
One is a rate of 2.15% above base rate, the other is 1.99% above. Both fees are around £800 which is good just now.
This equates to around £50 a month difference between the two (or £30 on the Interest Only aspect).
The 1.99% route means that the interest only mortgage will be reviewed in 10 years, when they may make it mandatory to go to repayment for the remainder of the term.
Is this a big deal, or, should I keep it clean for the offer in hand for the 2.15% option?
I don't know of any 70% ltv mortgage better than 1.99 above boe base rate tracker (lifetime), but if you do, please share.....
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