Fixed rate ending but wanting to buy/move soon after

GoingOn30

Our fixed rate is coming to an end in late November, we are on a 1.6% 3 year fix deal with Halifax and by time we come to remortgage, we'll owe about £195k with 65% LTV. 
Ordinarily I'd be asking Halifax about their rates for existing customers and comparing to other providers, however we'd been considering upsizing and the stamp duty holiday means we'll most likely bring forward these plans and be looking to move before the end of March. 
Is there any other sensible option other than just moving onto the SVR that Halifax offer? I've thought about looking for a new fixed deal that we could port, what are the pros and cons of this vs a few months on an SVR until we move/buy? 
If it makes any difference, the upsize means we'll be looking to borrow about £340-350k on our next place with 80%LTV. Grateful for any advice as we are second stepping so first time selling. 

csgohan4

have you considered products with no ERC as an option, but you must factor in solicitors fees, products fees etc.

May be cheaper to stay on SVR?

dimbo61

We are now on August and your current deal runs out in late November.
I would start house hunting NOW.
It normally takes 8/10/12 weeks to find a place you want to buy and carry out all the searches, survey and legals.
Try and find out how much lenders will lend to you.

GoingOn30

csgohan4 said:

have you considered products with no ERC as an option, but you must factor in solicitors fees, products fees etc.

May be cheaper to stay on SVR?

Thanks, from my initial searching it looks like most/all products with no ERC are SVRs? 
I think you are probably right that SVR may be cheaper as we are only anticipating being on it for a short period. 
There's no reason we can't move after our current fixed rate expires if we are then on a SVR with no ERC no? 
We're not going to move until we have found the right property to buy. 

GoingOn30

Just bumping this in case anyone else had any more thoughts?

haras_n0sirrah

There are lenders who have no erc and free sol/val. Why not remortgage?

ispookie666

I was in the same boat - my Halifax product was coming to an end (May 2020 - when the ERC ended) - I went with L&C who moved me to Nationwide tracker 1.7% with no ERC for 2 years.  It was not the cheapest and did not have any product fees.  The LTV matters, all this was done just as lockdown had just about started.  

Thrugelmir

Might as well see wait Halifax have to offer. The product will most likely be portable. 

The housing market naturally dies away as Autumn approaches. Generally picking up in the New Year as spring approaches. Start looking now. As time will pass rapidly. 

GoingOn30

Thanks all. Yes have got a few viewings booked in this week, although some places wouldn't even let me book a viewing since we aren't proceedable! 
From what I'm hearing, the catchup post lockdown and the stamp duty holiday might mean the usual summer buzz extends into the autumn somewhat. 
Can I approach Halifax now to see what their retention offer would be come the end of Nov or will I likely need to wait until nearer the time? 

sam121285

GoingOn30 said:

Thanks all. Yes have got a few viewings booked in this week, although some places wouldn't even let me book a viewing since we aren't proceedable! 
From what I'm hearing, the catchup post lockdown and the stamp duty holiday might mean the usual summer buzz extends into the autumn somewhat. 
Can I approach Halifax now to see what their retention offer would be come the end of Nov or will I likely need to wait until nearer the time? 

Hello. 

I’m in a very similar situation. I spoke to a broker about the options re my fixed rate coming to an end before we would move and he looked at the market and advised me it would be cheaper to move to the SVR for the few months. If your wanting to move by March then it will be 4ish months for you won’t it? If you don’t want to approach a broker Use a mortgage calculator to work out what this payment will be And see if you think that’s worth paying. I also wasn’t keen on moving to A mortgage with no ERC and then potentially having to move lenders to get a better deal and the impact on my credit score this could have. We are with halifax and our new deal is with Halifax and we got our mortgage offer within 48 hours of applying which wouldn’t have been as easy if we had moved providers and then tired to move back for a better fixed rate deal.