Tricky Mortgage Situation

[Roy is Right]

I am about to put my house on the market as we are moving house to another county.
Our current mortgage is a fixed one for a period of 3 years. The 3 years will be up very soon. However, due to work commitments I cannot leave and move for another couple of months after that. So, by the time we are able to move we will have to decide on another mortgage rate (fixed, var, tracker) albeit for only a couple of months of living in the property.
The advice I am looking for is, does it really matter what type of mortgage I choose as we will only be paying it for a short period anyway?

 

[ClubMan]

The advice I am looking for is, does it really matter what type of mortgage I choose as we will only be paying it for a short period anyway?

You should probably go for the best value tracker/variable rate mortgage if you will be selling up soon after. Don't lock into a fixed rate in these circumstances.

 

[BigM]

You should probably go for the best value tracker/variable rate mortgage if you will be selling up soon after. Don't lock into a fixed rate in these circumstances.

Go to a mortgage broker (an independent one - not in the bank!) and they'll be able to tell you what the cheapest variable/tracker for you is. Also the Irish Times property supp (out today) will have a listing of all the main bank's rates.
As Clubman says, do not under any circumstances go for a fixed rate as you'll be charged break costs when you sell (esp if you sell after the next hike in Oct 5th).
Good luck with the move !

 

[CCOVICH]

Check out the Best Buys forum to get some idea of the tracker rates on offer at the moment.