My mortgage on my house is due for renewal in October but I don't want to fix as I am planning on selling next year. I probably won't be moving to a new house straight away as I will be buying with my partner and will have to wait until his house sells.
So, can I remortgage to get a better deal but without tying myself into any early redemption penalties?
I've had a quick look online and all the ones im looking at are tracker or fixed but both seem to have getout clauses/penalties before the term ends?
If I stick to the mortgage company I'm with now I will drop onto their variable rate which will cost another £100 or so a month - not ideal when I'm trying to save up for the new place!
Another question - if I sell my house and I don't end up buying a new one for another year or 2 what happens to the money, will I get taxed on any profit and ONLY the profit? I think I should make 5k profit max.
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can you remortgage without fixing?
21 replies
Collywobbler · 16/08/2016 13:33
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