Re-mortgaging for short period

Close_Saver

My daughter aged 34 will reach the end of her fixed 3 year mortgage at the end of this year. She is with Northern Rock. However she wants to sell her flat early next year as, although no date has yet been fixed she intends to be married next year when she will move in with her husband into his house. She therefore will only need a mortgage for a short period. Should she go for a variable or fixed term. What would be her best options.

Should she seek the advice of an IFA besides that of her current broker?

pandora205

As rates are relatively low at the moment, why doesn't she let it revert to standard variable? This would avoid any fees too. I'm in a position where my fixed rate ended last year and I'm hoping to have paid my mortgage off in two more years. The costs of transferring (and the reluctance of lenders to do so over a short period) made it sensible to stay put. In fact standard variable rate was considerably less than my fixed rate as that was taken out several years ago.

herbiesjp

Probably best to go onto SVR.

That way no exit fees to re-mortgage, no set up fees for re-mortgage, and then no penalties to leave when the place is sold.