Pay off mortgage or leave money in savings?

[HOGEPH]

I have about 35000 remaining on my mortgage with a fixed deal of 1.89 for the next 12 months. The early repayment fee is £330, and the best savings interest I can get is 0.95 gross.

Could someone smarter than me show me a formula for working out whether I'm better off carrying on with the mortgage and not paying the repayment fee, while earning small savings interest, or just bite the bullet, pay the early repayment fee and save on the mortgage interest over the next 12 months?

[HOGEPH]

Zoon said:

What is the remaining term?

4 years 11 months.