Tracker now, move and fix later

Mover555

Hi, we've failed in our attempt to move house this year (purchase fell through, our buyers have given up waiting) and instead we want to remortage now, then try to move again next year.

I plan to take out a cheap tracker for the next 6 months, then take out a fixed term when we move. Is anyone aware of any issues with taking out two mortgages in such quick succession?

Thanks

sammyjammy

A cheap tracker for six months? Good luck with that....

Mover555

Found one with Woolich (Barclays) at 1.49% with no early exit fee. It's cheaper than my current mortgage monthly payment, even if they up it by 1%. Is there something I should worry about?

Thrugelmir

Remortgaging costs. Switching lenders comes at a price.

minimike2

Thrugelmir wrote: »

Remortgaging costs. Switching lenders comes at a price.

Not always.....

Mover555

Ah I see - thanks for the advice. Point taken about the fee for the mortgage itself - but it's under a grand and that's not that big a deal. The important things to me are long term monthly payments along with flexibility to change the mortgage again without penalty. Plus I need some cash from the value of the house so it suits right now.
The question is whether a mortgage could be refused on the basis of another having been taken out only 6 months before.

csgohan4

Do you need conveyancing costs for remortgaging and valuation fees?