We have a fixed rate mortgage with Nationwide @ 5.68% which ends 30.09.2012. Our monthly payments are £858.00 per month and there is approx £134k owing. Our property is worth approx £165k. The early repayment fee is approx 4k on this fixed rate mortgage. Is it worth paying the fee to end this deal and switch to a different lender offering a lower rate? Ie, would we save over £4k in reduced mortgage payments over the next 3 yrs and 3 months by switching or not...?

Thanks

Chimeine