Should I Move My Mortgage?

[tigwig]

I currently have a small mortgage of around £12,000 which is fixed at 4.99% until May 2015. If I were to get a new deal this would incur fees of £980 to leave. So lets say I would need a new mortgage for £13000. I cannot work out if its worth moving or not. Monthly payments are low at £79 and I have around 20yrs left on it. Previously it was much more but we inherited a big lump sum and paid off what we could afford which didnt quite cover it. I dont want the monthly payments to increase to more than £100. Is it worth paying the fees to get a lower rate or not?

[boxtops]

I wouldn't bother, your rate is pretty good as it is.

[buildersmate]

This is a no-brainer.
You are paying about £900 per year in interest.
If you tried for a better deal, what are you hoping for - 4% perhaps.
That will save you £200 per year at most.
But you have to pay 5 year's worth of potential savings to get at!!! and the fixed rate runs out in 2 years.