Such a small rate differential will be eaten by legal/discharge fees, so not worth it. And I believe 2.69% with MCAP is for new mortgages only, not for renewals.
I am due to renew in September and thinking about doing it now with this rate. 5yr bond yields are quite higher than they were when the rates were 2.35%, so I have my doubts that rates will drop much more in the future. Any other opinions?