Better remortgage than this ?

Hi all

like many I am looking around for a good remortgage currently paying a song for a 7 year fixed at 5.6% with 360 a month payments.

although I am tied in for the 7 years I will have to pay back about 1000 and I have 54000 left to pay on this now so lets say 55000 to leave this and move to another mortgage

I have looked around and checked my current lender northern rock and I cant see anyone beating the following..........

Newcastle building society with a 2 year discount at 4.8% with no extended tie in and fee free so no cash outlay :)

So I can raise some cash i.e 10,000 for some home improvements and pay back

although this is all starting again at 25 years loan but I am only 33 so this is still possible

Now the above seems to be the best I can get just miffed that I couldnt get a better deal with a lower rate so that I could set the loan over 22 years.....

Anyone help me out or got any advice on the above ????????????????????

or maybe thinks I should wait a while for some lower rates ??

thanks in advance for any help

Lee