Just use any online mortgage calculator, enter the principal due, the rate, the duration of the mortgage (5 years in this case), and expected monthly repayments. Calculator will show you the interest to be paid over 5 years. Then compare with the two rates and add the fee to the interest due for the lower rate. Or just use this: https://www.thisismoney.co.uk/money/mortgageshome/article-1633400/Mortgage-calculator-Compare-true-cost-rates-fees.html
Not sure how you would have a ERC of just £250, as it's calculated on the original value of the mortgage, not what's outstanding.
When I remortgaged with First Direct in January, they did a software valuation, and I think they overvalued my home by about 4%...
No, you'd be better off by £355 overall with the 1.59% inc of fees over the 5 year term but I would check the respective exit fees payable at the end of the deal for both products also. HSBC generally charge zilch whilst Santander charge around £250 or so, therefore this should also be calculated into your figures (y)
Changed our value of the property and now that we’ve been in contact with them 6times on the phone they spoke to underwriters and knocked 12k off 285 😄. Absolute bandits. I googled ‘HSBC undervaluing my home’ and It seems a lot of people have the same issue.