Fixed term mortgage or not?

first78

Our current two year fixed rate mortgage with Natwest finishes this August and I'm not sure whether we should go on another fixed rate or go onto a SVR.

We have 26 years left on the mortgage but want to put our house up for sale at the start of 2020. Can anyone give me any advice, just want to make sure I make the right decision, thanks.

bexster1975

As far as I know, you can take a fixed rate to your new property. Depending on your current LTV, moving on to an SVR could double your interest rate which, even at current low levels doesn't doubt like a great idea to me. Ask your lender/lender you are interested in moving to about taking your mortgage to a new property. If you can with no penalty, I suspect a fixed is a good idea.

Bexster

Tropically

You could find a 2 year fixed rate with no early repayment charges. A standard variable rate is usually not a good deal, but you can find a discounted variable rate that are usually lower.

But predicting the future is always guess work. At the moment, it is likely that the BoE interest rate will rise in the near future.