Bit of advice plz :)

daviduk1976

Hi guys,


We come out of our 5 yr fix this month. We are currently with Santander. The thing is we plan to sell the house 2016. My partner is being offered Voluntary Severance, and we are moving out of London to Manchester. We are still unsure of the moving date.


If we fix for 2 years...and want to leave...no doubt we would have to pay. In a nutshell, is a tracker mortgage the best way for 18 months?
Santander offer it @ £800 approx. - we now pay £1007. And we can sell with no fee to pay to them. Or fix and suffer the 3% ?


We currently owe £133k.


When we move we will not need a mortgage as we would be possibly cash buyers until our house is built....


Any other options out there for us?


Many Thanks

Thrugelmir

Tracker the tracker on offer and overpay your mortgage, i.e. maintain repayments at the current level. This will give you inbuilt protection against rate rises. In the meantime it'll be saving you money.

There's little point in tying yourselves down if the future is uncertain.