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Mortgage End of Fixed Rate Advice Please!
sandford6016
Posts: 162 Forumite
Hi,
You may have seen some of my previous posts regarding moving house, well it's gone a bit wrong! The house we wanted sold to someone else, my estate agent has had to close braches because of the poor market, and all the people that book viewings, cancel a couple of hours before!! It's so frustrating!!
Anyway, the house is staying on the market, but my fixed rate (with Northern Rock) is due to end on the 1st of July. What should I do? Keep paying Northern Rock, but at the higher variable rate, or look for something else. Bear in mind though, that we do still want to move, so the mortgage will have to allow us to increase it by around £90,000 and move to a new house? Is this possible? Will it save me money, or cost me more with fees etc??!!!
Thank you in advance. Mark.
You may have seen some of my previous posts regarding moving house, well it's gone a bit wrong! The house we wanted sold to someone else, my estate agent has had to close braches because of the poor market, and all the people that book viewings, cancel a couple of hours before!! It's so frustrating!!
Anyway, the house is staying on the market, but my fixed rate (with Northern Rock) is due to end on the 1st of July. What should I do? Keep paying Northern Rock, but at the higher variable rate, or look for something else. Bear in mind though, that we do still want to move, so the mortgage will have to allow us to increase it by around £90,000 and move to a new house? Is this possible? Will it save me money, or cost me more with fees etc??!!!
Thank you in advance. Mark.
:T If you don't have anything sensible to say, don't say it! :T
0
Comments
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I always urge caution and do not recommend people remo when a house move is around the corner. There are to many variables that could mean any new remortgage might not be transposed to a new property, for example if the property is not suitable.
A lot of confusion around the word 'portability' arises, where it assumed being portable means come what may the loan can be ported - it cant.0
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