Help: Fixed rates with lump sums

ArtieFufkin

We're looking for a fixed rate mortgage but will need to make a lump sum payment on the sale of a house we are about to market and a further lump sum reduction after about months. Is there any fixed rates with this flexibility?

MortgageMamma

yes, there are fixed rates available that let you make unlimited overpayments. Most only let you repay 10% of the mortgage balance per annum though.

MarkyMarkD

You could also take a split mortgage from many lenders, which might prove better value overall. In other words, a fixed rate for the proportion you aren't going to repay soon, and a variable (discounted or tracker rate with more flexibility) for the proportion you ARE going to repay soon.

MortgageMamma

or you could even take a flexible/offset mortgage with a savings pot, dependent upon the sums involved

MarkyMarkD

I doubt offset is the right solution when the OP just wants to overpay.

Offset is, indeed, hardly ever the right solution.

MortgageMamma

but sometimes it is, and lets face it, we know nothing about the OP, so its wrong to assume anything is right or wrong.