Bit of a complicated one and I understand this is unusual!
We have a mortgage offer that runs out on 30 Sept with a one month extension possible to 28 Oct. We are currently waiting on the probate to come through on the house we're buying. (It's been 9 months already and have already had to redo our mortgage once in March. Original rate was 1.04 and now have 2.10% until Oct)
We are worried about the rising rates and wondered whether we should lock in another offer now as an insurance to give us more time. Looking at about 3.6%. If we wait until October we'd be looking at an even higher rate of over 4 as base rate is going up again in two weeks. Realise it would cost us an arrangement fee and we might not even need it but feel £1,000 etc could be worth it either way.
My broker says it's unusual but we could do it and it won't affect our current offer but I'm nervous.
Any experience or advice?