Newbie: How long to fix a mortgage if planning to sell?

Gorecki

Hi,

I'd really really appreciate any advice you could give me...

I bought my first house in Jan 2014 (see below):

Location: Midlands city
Cost: £200'000
Mortgage: £130'000 (65%)
Provider: Barclays/Woolwich
Terms: 2.18% 2 years fixed

It turns out all though we like it, it's not quite right for us (would like a more rural location, bigger garden etc).

The plan is to buy a different house within 2 years.

We are now able to renew our mortgage online via a Barclays portal.
There are various options, but we particularly like the idea of security through another (longer) fixed term mortgage.

Barclays say if I get a 5 year fixed term, it is possible to port this to another property easily after purchase (subject to survey, affordability etc).

I guess my question is, if you knew you were extremely likely to purchase a different (more expensive) house, in the next 2 years, would you select a 5 year fixed product (keeping in mind the current low rates), knowing you'll have to port?

Are there any issues I need to think about?

Thanks a lot for your help,

anselld

I wouldn't do it. If Barclays decide they don't want to lend on the place you decide you want for whatever reason you are stuffed. Keep your options open.