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Mortgage Fixed Term coming to an end: only want mortgage for a few more months

retireby35
retireby35 Posts: 21 Forumite
Sixth Anniversary 10 Posts
in Mortgages & endowments
So my fixed 3 year mortgage rate is coming to an end in November and the plan is to only keep on living in the house until March/April/May next year before moving into my partners property. He's already got a mortgage.

I've tried looking around for where to move my mortgage to, and everywhere only seems to be doing 2 year + plans. I cant find any plans that don't lock you in for a minimum of 2 years. Is it possible to just get a short term variable plan? Or can I sign upto a 2 year plan and then cancel after a few years?!

I have got an independant mortgage broker/advisor but they haven't responded to any phone calls/emails so its safe to say I won't be continuing with them!

Thanks for any advice/help!

Comments

  • haras_nosirrah
    haras_nosirrah Posts: 2,208 Forumite
    Who is your lender?

    Some offer no tie in trackers which may be a good option
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • retireby35
    retireby35 Posts: 21 Forumite
    Sixth Anniversary 10 Posts
    haras_nosirrah wrote: »
    Who is your lender?

    Some offer no tie in trackers which may be a good option

    Unfortunately its a very small lender with only one branch!! What they are offering me is 6% interest...
  • amnblog
    amnblog Posts: 12,762 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sometimes a lender will offer a rate, typically a discounted or tracker rate, without an early redemption penalty.

    How much of a saving you will get over four to six months is a different point.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • FIRSTTIMER
    FIRSTTIMER Posts: 637 Forumite
    I would take out a tracker with no redemption fee...first direct do this. They also let you do a two year fix with unlimited overpayments, so in theory you could reduce balance down to 1k if you wanted
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    What are you doing with the place when you move out?
This discussion has been closed.
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