Remortgage or not

Capybara84

Hi, 
I'd really appreciate some advice about our current situation. Our 2 year fixed rate mortgage ends in November and a move to the SVR would see an increase of around £200/month on our repayments. Usually I would fix again however we are also hoping to move in the next 6 months to a house which will require a much bigger mortgage (which we can afford and have AIPs for). My thoughts are that I don't want to fix again as would likely face an early repayment fee or have hassle of porting (which isn't guaranteed from what I have read). If I apply for a tracker mortgage, for example, with no early repayment but then need to apply for another mortgage a couple of months later for the new house will the remortgage application negatively impact on the latter application? I hope that make sense. Thanks for reading. 

Thrugelmir

Remortgaging to a new lender is an expensive option if you intend switching lenders yet again in a few months time. 

Have you totally discounted remaining with your existing lender? 

How far into the house moving process are you? 

Capybara84

Hi Thrugelmir, 
Thanks for the reply. We have just put in an offer so a long way to go yet but hopefully moving within 6 months. We haven't discounted just staying and paying more but was a) hoping I could save money with a remortgage and b) wondering how this would impact on new application a couple of months later. Just looking at what's best financially given our likely move (which will hopefully be before the stamp duty holiday ends). 

Thrugelmir

Porting isn't a hassle as such. Is there any reason why your existing lender would decline the request, i.e. a change in circumstances. Starting point is the products available to you. Locking in to a rate may well have it's advantages. 

Capybara84

Yeah I looked at porting but would be porting existing mortgage and then need to apply for rest of amount needed which (although not likely to be rejected) might be on less favourable terms. At least I think I'm right in saying that