Best option when planning to move.
Discussion
So ive just moved onto a tracker mortgage for 2 years which currently sits at 1.29 above base rate (0.5%).
I am looking to move in about 1 year to 18 months.
I have been told i can pay as much off on my mortgage with no limits at all and obviously i save on interest.
My question is, is it best to pay more off my mortgage until i move, or keep hold of the money incase property prices decline? I live in the north east if that makes any difference.
Also has anyone sold a house on the 'firstbuy' (which is basically the same as helptobuy with the 20% equity loan), if so, is it an absolute faff to sell your house with it on?? Am i best remortgaging for a higher amount now to pay it off or do it when i sell?? The mortgage advisor seemed to think theres less fees involved when doing it at the point of selling, only issue with this is it will slow the sale down as you have to sell for a price they are happy with.
I am looking to move in about 1 year to 18 months.
I have been told i can pay as much off on my mortgage with no limits at all and obviously i save on interest.
My question is, is it best to pay more off my mortgage until i move, or keep hold of the money incase property prices decline? I live in the north east if that makes any difference.
Also has anyone sold a house on the 'firstbuy' (which is basically the same as helptobuy with the 20% equity loan), if so, is it an absolute faff to sell your house with it on?? Am i best remortgaging for a higher amount now to pay it off or do it when i sell?? The mortgage advisor seemed to think theres less fees involved when doing it at the point of selling, only issue with this is it will slow the sale down as you have to sell for a price they are happy with.
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