Fix ending - moving house and avoiding the SVR

Jessetta

Hi,

I may already know the answer to this but would greatly appreciate any other thoughts…

Our fix is up in early July. We are planning to move house as close to this time as possible - it will be a larger mortgage. However, hot market, just assuming our house is relatively sellable etc so extremely uncertain timescales. 

Our lender does not do trackers. Do we have any other options to waiting it out on the SVR when the fix is up, which could potentially be months on a higher rate? Obviously I’d rather save the cash if we can!
thanks in advance.

K_S

@jessetta You could switch to another fixed-product (which allows porting) with the same lender and rely on being able to port. If you intend to buy a standard freehold house and are borrowing well within max affordability, this could be a low-risk option with the benefit of being able to fix.

Or remortgage (change lenders) to a low/no-fee low/no-ERC tracker/discount product.

Thrugelmir

Stay with your lender and port the existing mortgage. Borrow the additional amount you need to fund the purchase. 

getmore4less

Is the current lender competitive?

You could just start the moving process now making it clear your timescales.

6months is not that far away.