Hi

I recently took out a 5yr fixed rate mtg at 5.28% and i have a few questions im hoping someone might be able to advise on. I borrowed £61,995. Now wondering if i made the right choice (i liked the idea of knowing exactly what im paying!)

1.Thinking ahead; So i can understand in 5yrs whether i made the right choice! (this might help for any future decisions i make) can anyone advise on the current tracker rates. If i recall the tracker value came out at about £320. (Can’t remember the rate) and the 5.28% fixed rate i am on is just over £372.60. So £50 per month over the 5yr term is £3000 – i may be able to work out the difference!

How much might it then cost more if the base rate rose to 1%.


2.Regarding my 5.28% rate; What exactly is the 5.28% a percentage of? It must of course be 5.3% of the mtg amount (£61,995)! But can anyone clarify exactly what part of it i am paying off and how that relates to the £372.60 payments.

3. Can you do part/part mtgs i.e. could you do fixed on £30k, and variable on £30k?

All advice appreciated.

Thanks