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Should I fix my mortgage whilst I sell my house?
djheath
Posts: 453 Forumite
Hi, I hope someone can give some advice.
I currently have a Santendar mortgage at the SVR rate of 4.2 %. My original fixed term ended last August. I was happy with the SVR rate so have stayed with it, plus I knew I would be selling my flat this year so wanted to take out a new mortgage deal with my gf when I move.
My flat has been on the market now for over three months and doesn't look like its selling any time soon. I am getting worried that interest rates are immanently going to rise, and dont want to suddenly get stung with higher mortgage payments. I also don't really want to fix my mortgage to a new deal which could last say 2 years when I may have to pay an arrangement fee, plus have to pay an exit few in a few months when I move and possible a new admin fee when I take out a new mortgage on the new property.
Is there anything I can do to protect myself against rising interest rates in the interim of selling my flat, and be able to take out a new deal when I move?
Thanks
David
I currently have a Santendar mortgage at the SVR rate of 4.2 %. My original fixed term ended last August. I was happy with the SVR rate so have stayed with it, plus I knew I would be selling my flat this year so wanted to take out a new mortgage deal with my gf when I move.
My flat has been on the market now for over three months and doesn't look like its selling any time soon. I am getting worried that interest rates are immanently going to rise, and dont want to suddenly get stung with higher mortgage payments. I also don't really want to fix my mortgage to a new deal which could last say 2 years when I may have to pay an arrangement fee, plus have to pay an exit few in a few months when I move and possible a new admin fee when I take out a new mortgage on the new property.
Is there anything I can do to protect myself against rising interest rates in the interim of selling my flat, and be able to take out a new deal when I move?
Thanks
David
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