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Remortgaging when intend to sell?
Comments
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Competitive variable rate mortgages are available.
I have a mortgage from Yorkshire Building Society which tracks the Bank of England base rate plus 0.89% for 2 years.
So I currently pay 1.64%.
There is no early repayment charge.0 -
Am I missing something?
It's been rather a while since we remortgaged but we've ported our mortgage, and its rate, to a new house on more than one occasion.Everything that is supposed to be in heaven is already here on earth.
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Yes. Read the first post againDoozergirl wrote: »Am I missing something?
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Yes, the OP wants to rent whilst deciding on areas to live in.
Not alot you can do other than try and time it as well as you can and go on to a tracker mortgage that usually has no ERC until you sell.0 -
A year long deal? What happens at the end of the year - surely you'll be in the same situation? You will still have to market your house roughly 2-3 months ahead of your move, and still risk being on a standard rate for X number of months....I've already found a variable rate with no repayment charges at 2.65% so we could save a few hundred pounds a month.
Or do you mean the rate is indefinite so stay on it as long as you like with no charges? Sounds unusual :think:2024 wins: *must start comping again!*0 -
A year long deal? What happens at the end of the year - surely you'll be in the same situation? You will still have to market your house roughly 2-3 months ahead of your move, and still risk being on a standard rate for X number of months.
Or do you mean the rate is indefinite so stay on it as long as you like with no charges? Sounds unusual :think:
No, it’s a tracker rate that’s currently at 2.65%, with no fixed period and no exit fees. So 1.5% lower than our banks current follow on rate.0 -
It will probably sell at the right price IMO.0
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Our house is in a very specific market that is moving very slowly at the moment (like a year or more to find a buyer as there isn't a nig pool of buyers - its not really a normal 3 bed semi type of thing),
Then the issue is unlikely to be Brexit related. Nor does renovating property always guarantee a return on the money outlayed. Sometimes things simply don't work out as we planned.0
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