Had offer accepted, 8 weeks until fix ends, am I free to apply for mortgages with other enders

WatchedClock

Hi all

I am moving house and my original plan was to port my existing mortgage. However it took quite a while to find somewhere and having just had an offer accepted there's now only 8 weeks until my fix ends, so I guess porting isn't a realistic possibility as we won't be complete by then.

I need to apply for a mortgage asap, am I free to apply for mortgages with other lenders now? Do I need to inform my current lender or will the new lender do all that for me? Any advantages in staying with my current lender? 

Thanks

wc

Thrugelmir

With only 8 weeks left you are free to do as you wish. If your existing mortgage isn't redeemed in 8 weeks. You will default onto your lenders SVR. Likely to be a sizable jump in outgoing. 

dimbo61

You could drop onto the SVR for a few weeks/months and then once the selling/buying process is close to exchange and you have shopped around for the best mortgage deals you can compare them to your existing lender and New deals offered to existing customers.
However with No ERC,s to pay you have the whole market to search 
Maybe a mortgage broker can help ?

kingstreet

As your purchase isn't going to complete in the next eight weeks, your current deal is irrelevant and you should be looking for a new mortgage with all lenders.

If you are lucky to be with an existing lender like Nationwide with a penalty-free tracker product you can do a rate switch on your current mortgage when your current deal ends.