What mortgage should we get for the house we are selling?

Q We've had an offset mortgage on our current home for exactly two years now. This is the end of the commitment period. Coincidently we are also putting our house up for sale as we are moving.

With no guarantee about how soon the house will find a buyer, what is the best type of mortgage I could switch to for my current house until it sells? We plan to stay rented in our new location until we sell this house.
SA

A To be honest, unless your mortgage repayments are going to shoot up dramatically, I'd be tempted to wait until you've found your next property to buy before changing your mortgage.

The trouble with switching now is that there will be fees involved both in paying off your current mortgage and also in setting up a new one. And, unless you were to switch to a mortgage which is fully portable, there would be another set of fees - and possibly early repayment charges - for redeeming the new mortgage when your current home is sold.

And even if you do go for a fully portable mortgage - which means that you can keep the same interest rate when you move, and also avoid paying early repayment charges - there will still be fees to pay to transfer the mortgage to your next property.

In addition, mortgages are usually only portable between two properties if there's no gap between moving out of one and moving in to the other, which might not be the case for you if you wait for your home to be sold before looking for another.