What would you do...?

[UserMe18]

So our mortgage deal is ending imminently, I am looking to refix. In an ideal world we would fix for 5 years, ride out this Brexit debacle as much as we can.

But, there are new houses due to be built in our village 2019-20, we desperately need to upsize and do not want to move out of the village (new build is the only house we can afford in the size we need here).

The problem is if we end up buying a new build for reasons I won't bore you with it is 90% likely we will have to change our mortgage provider and therefore do an early repayment charge. Obviously this is quite large for a 5 year fix, but there's no guarantee we could actually move next year, if our house price crashes we'll be going no where! But I'm scared our LTV dropping and interest rates rising within 2 years!

What would you do?!

Fixing a mortgage rate doesn’t mean you can’t move. Our bank allows us to move our mortgage to another property, I would choose a provider that allows that.

There's only 2 mortgage companies we could use that would let us do what we'd need to do next year, and their interest rates are rubbish (not worth fixing).

Which is more important saving some cash or moving home?

Would extending your current home be an option, or is it new build or nothing?

Current house can't really be extended, it's on a very small plot. I suppose moving house is the priority, but until they release the prices of the new houses I'm not even sure if they'll be in our price range. If it wasn't for bloody Brexit I wouldn't be so nervous and I'd just fix for 2 years.