Urgh, that Barclays deal does look about the best interest rate with the lowest fee that's readily showing up. The comparison sites bring up a few others just under (3.09% or 3.18% for a two year fix/tracker) but the arrangement fees are much higher!
Given that you're not going to save £750 worth of fees on your monthly payments over a two year period you may be better staying put with the Nationwide Standard Monthly Rate (SMR) of 3.99%.
Although, something you may want to investigate as an alternative is getting their 2 year tracker at £0 fee which works out at 3.99% too. This should then give you the £300 cashback (or £400 if you complete the application online rather than by phone) which would cover your £16 per month extra payments for the two years. Stick it in a savings account and draw down the extra each month to cover the increased costs.
The downside of this is that it's a tracker and if the base rate goes up, so would your payments, and you're tied in for 2 years. That said, chances are they would also put the SMR up at the same time and there's a chance that the SMR would change before the fixed deal because that's a figure the Nationwide picks to suit their own costs, rather than it being linked to the base rate. And their borrowing costs are potentially still increasing.
I'm guessing you'd need to do this deal direct rather than through a broker to benefit.
Given that you're not going to save £750 worth of fees on your monthly payments over a two year period you may be better staying put with the Nationwide Standard Monthly Rate (SMR) of 3.99%.
Although, something you may want to investigate as an alternative is getting their 2 year tracker at £0 fee which works out at 3.99% too. This should then give you the £300 cashback (or £400 if you complete the application online rather than by phone) which would cover your £16 per month extra payments for the two years. Stick it in a savings account and draw down the extra each month to cover the increased costs.
The downside of this is that it's a tracker and if the base rate goes up, so would your payments, and you're tied in for 2 years. That said, chances are they would also put the SMR up at the same time and there's a chance that the SMR would change before the fixed deal because that's a figure the Nationwide picks to suit their own costs, rather than it being linked to the base rate. And their borrowing costs are potentially still increasing.
I'm guessing you'd need to do this deal direct rather than through a broker to benefit.
Anyway... food for thought.
*virtual vodka and cake*
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