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Interesting. This is with Bank of Ireland. I don’t want to sign another long term as I’m sick of this flat and want to move to a house. So I need something flexible. Can they put me on a tracker with a less bonkers rate?
As above, the closest thing you get to flexibility is porting which can be a bit of a ball ache in itself.
If I were you I'd consider a short term fixed deal, i.e. two years, enough time to get back in to work and get the place sold.
Alternately, if you think you can get the place sold and get back in to work in say nine months, compare the up-front costs to remortgage (they might not even be any) + the early repayment charge should you sell the place in the fixed term vs. the (additional) cost of being on the default tracker deal for nine months.
You have an annoying fiddly situation there, but there are options.
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Howard
Interesting. This is with Bank of Ireland. I don’t want to sign another long term as I’m sick of this flat and want to move to a house. So I need something flexible. Can they put me on a tracker with a less bonkers rate?