Ah, yes, good point
I'm not trying to say I was right and you were wrong. Just something for people to think about. Yes certainly the bigger the numbers the more beneficial it will be. Not sure how many people have a 95% mortgage which is in the £1800 ball park per month. But you seem to have done your homework and have a plan that works for you. :)
You missed my bit about overpayments. My mortgage as a FTB last year was for just under £350k... by overpaying a bit here and there and keeping fingers crossed for 5% increase in house price per year (not inconceivable where we live) I’m hoping we can get a rate at remortgage time that will be £200ish less a month - which will then be allocated for monthly overpayments to pay it down even quicker.
You also need to looks at the numbers rather than just the LTV. Example: Borrowing £130k (reasonable figure for a first time buyer going for a free fee product) at the end of 5 years you will owe £113k Example: Borrowing £130k after 3 years you will owe £120k. Then you take a 2 year fixed at 2.5% (based on today's best rate plus 2x ¼ points rise). So borrowing £120k after 2 years you will only be a few hundred pounds better off. So you are swapping £200 (or so) for the security of a fixed mortgage for another 2 year. It may be a good thing if say your finances change (redundancy or a baby). Just food for thought. :)
My mortgage is due to renewal in february next year. Just before brexit, so hopefully situation will be clearer to know should we fix for long or short term.