Answer Base

Hi, i have a fixed rate mortgage that runs out in december. it was fixed for three years, we are going to move house next year hopefully to a new area in april/may/june time. what happens to my mortgage after the fixed rate runs out? i know i could get a new one but i wanna sell up a few months later and dont want a redemption charge. when we move we will rent somewhere for 6 months at first but i wanna buy a house to renevate how would this work? confused cheers!

You will go on the standard variable rate, however if you take out a new fixed rate you can port this ...however as you are planning to rent for 6 months prior to buying you may not qualify to port the product, check with your lender if they cannot accomadate go on to the svr untill you plan to buy then shop around