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When should we time our move?
Moley42
Posts: 4 Newbie
Hi all, Our current fixed rate of 1.5% runs out in May 2024. We want to move to a more expensive property ASAP. Considering how crazy rates are right now & that they might be on the way down by spring next year when we remortgage, should we wait until we get a new deal and then look at moving or will it make no difference?
Also (and I'm guessing the answer to this is "Property") we're hopefully going to have a decent lump sum soon, considering we want to move is this worth more to us in cold cash or in the property we currently have as equity? We have money for selling/buying/moving accounted for so it's really just where is this cash more useful to us when buying and selling?
Also (and I'm guessing the answer to this is "Property") we're hopefully going to have a decent lump sum soon, considering we want to move is this worth more to us in cold cash or in the property we currently have as equity? We have money for selling/buying/moving accounted for so it's really just where is this cash more useful to us when buying and selling?
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Comments
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There’s lots we don’t know here:
Are you able to port your current mortgage? Are you able to make overpayments on current mortgage? And if so how much are you allowed to pay each year penalty free?How much is current property worth?How much will new property be?How much mortgage will you need / be able to get?MFW 2026 #5007/03/25: Mortgage: £67,000.00
Mortgage:
04/04/26: £33,500
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000 -
Time it well……2006 LBM £28,000+ in debt.
2021 mortgage and debt free, working part time and living the dream0
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