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  • FIRST POST
    • dan~
    • By dan~ 10th Jul 17, 8:00 PM
    • 45Posts
    • 5Thanks
    dan~
    Moving house - fixed rate mortgage
    • #1
    • 10th Jul 17, 8:00 PM
    Moving house - fixed rate mortgage 10th Jul 17 at 8:00 PM
    Hello,

    I'm 2 years into a 5 years fixed mortgage and I've accepted an offer on my house but still nothing available yet.

    I had full asking price at £240k and have 123k left on the mortgage, which leaves me with £117k deposit for next house, then i can borrow £253k.

    So far so good, the problem is i'm struggling to work out if its worth porting my mortgage and pay a fine of 3k ish or whether to keep my existing mortgage and have another one for 3 years then when they both expire go onto a new one. These are the options I have with hsbc and going with 2 sounds a bit of a nightmare as eventually they'll need to become one.

    In my mind its best to pay the fine and get another 5 year fixed on the total amount but then funds become a little tight unless hsbc can put the fine in with the mortgage.

    If i try to look at having the 2 mortgages existing plus the other one what would my deposit be, so i can do some sums?

    Its annoying im getting a fine especially as im not leaving hsbc and actually extending morgage!
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