Mortgage Help

alm721

If anyone could offer any advice I'd be grateful, This is the situation,

We have a mortgage on our house for about 85k we have been on a tracker rate with Nationwide for 2 years and this ends on 31st October. We also have another smaller property which is currently let but with no mortgage on it. We also have our house on the market and are looking to move. We are undecided as to whether we will sell the other house as well or keep it and rent it. We anticipate it may take a while to sell our house although have been advised by agaents that the other one will sell very quickly. AWe are looking but dont really intend to but somewhere else until our house is sold but may do if we found the right property.
Anyway to get back to the mortgagte, I am undecided as to what to do due to above. I know we could get a better deal then letting it run on to the varible rate but want the flexibilty of being able to pay some off/borrow more etc without large fees. However Nationwides varible rate seems quite high in comparision to dsome fixed rates but does'nt have any fees attached to it. So would I be better off letting it run to a varible rate and remortgageng when we have/are moving etc, or going for a cheaper fixed rate and paying the fees, or is there anything better out there. To make things worse the FA that we used to use has not got in touch as they usually do when the mortgage is due for renewal and I have seen on the website were you check if they are registed that they no longer are so am unsure as to whether to contact them.

Please help, Many thanks

herbiesjp

It sounds like you need a flexible mortgage, that will allow unlimited overpayments, and potentially pre-agree further lending for you ready to draw down when you need it.

If you go for any deals with tie-ins with Nationwide you are allowed to overpay £500 pm - so no greater lump sum overpayment opportunities available to you if you wanted