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Best option for fixing when selling in ~one year
Options
housebuyer7
Posts: 190 Forumite
Hello,
I currently owe ~£380,000 with Halifax and my fixed rate is coming to an end in October. I am hoping to sell within 1 year so I don’t think a 2-year fixed rate mortgage is a good option for me as will need to pay an early repayment charge. Is a tracker mortgage a good alternative? So far I have not taken any action as I am hoping the interest rates may come down possibly after the general election?
I currently owe ~£380,000 with Halifax and my fixed rate is coming to an end in October. I am hoping to sell within 1 year so I don’t think a 2-year fixed rate mortgage is a good option for me as will need to pay an early repayment charge. Is a tracker mortgage a good alternative? So far I have not taken any action as I am hoping the interest rates may come down possibly after the general election?
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Comments
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A one year fix or ERC-free tracker would make sense.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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I can’t seem to find a one year fix do they definitely exist?0
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Is there an option of porting the mortgage to a new property when you move, if you are buying something else? If so then you could avoid the exit fees.0
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Hello! No unfortunately not I’m going to move back in with my parents for a bit until I find the right property.0
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