We are currently considering two potential mortgages and just wondered what people thought of these and how could I calculate the two offers and see which is the best one. Both are for 80% LTV
Im at a bit of a loss how to calculate one against the other with the fixed periods involved, is anyone able to help and make a suggestion with regard to which one would be cheaper?
- HSBC, fixed at 3.89% for 5 years then to 3.94% SVR, product fee of £599 however reduced to £399 if you take an advance account with them which is £12.50 a month, so doing this for a year then cancelling saves £45. Overall comparison is 4.1% APR
- Halifax, fixed at 4.39% for 5 years then to 3.99% SVR, product fee of £995. However they also pay the stamp duty which would be £2,400. Overall comparison is 4.4% APR
Im at a bit of a loss how to calculate one against the other with the fixed periods involved, is anyone able to help and make a suggestion with regard to which one would be cheaper?