I’m sure lots of people know this but if it helps one more person feel in control with the news interest rates are potentially going up again then it’s worth posting this. Any months mentioned such as 11 months means 11 months before the end of your current deal.
If your mortgage deal is due for renewal in the next 6-12 months. Speak to a mortgage broker now and secure a deal but don’t execute it. Wait until the 6 month time point then see the point below.
If your mortgage deal is due for renewal in the next 6 months, secure a deal with your current lender (most can be cancelled with no issues and doesn’t come into affect until your at 0 months) or if a better deal can be found with a broker again secure this but don’t execute.
If you get to 6 months before your deal and you managed to secure a 4% at 11 months and the rates have risen to 6%, do the maths with your broker if it makes sense to pay the ERC and transfer to your new deal. Or you can then secure a new deal and wait until 0 months to execute.
Hopefully this makes sense and it gives
you options so you feel more in control.