worth paying a mortgage product fee for lower %?

[hairyben]

Hoepefully a quick Q if anyone who understands the calcs if you dont mind thanks-

currently paying £317/month with regular double payments on 48k outstanding, Initial 5 year fix on a 25 yr mortgage coming to an end, want to fix for another 2 years with current providers (nationwide).

1.49% + £999 fee
1.89% + 0

Which is better? NW wont tell us without dragging us in and boring me to death. We already know exactly what we want - whichever means paying them less in interest.

[GT03ROB]

1.89% seems by far the best deal.

O.4% on 48k is only around £190 so for 2 years will only be a saving of £380max if my maths is right

[Sarnie]

GT03ROB said:

1.89% seems by far the best deal.

O.4% on 48k is only around £190 so for 2 years will only be a saving of £380max if my maths is right

Yep......the lower the balance the more likely a fee free deal will work out cheaper......

[hairyben]

Thanks guys, made the same calc but wondered if I was over simplifying or missing something.