| calculating mortage interest?!
Can someone help work out which is better?
I have some options when remortaging with Nationwide:
tracker:
Pay £499 and get 0.13% *below* BOE base rate for 2 years
Pay nothing and get 0.27% *above* BOE base rate for 2 years.
How do I calculate what that 0.4% difference equates to on a £150k mortgage?
Another option was
Pay £399 and get 0.18% *above* BOE base rate for the full length of the mortgage. Tied in for 5 years but no penalty if switching to a fixed rate before then. Does that sound good?
I'm currently paying 0.04% above base but its running out in August. Of course I'll check other options too
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