Split mortgage in two?

beniamino

I would like to take my current mortgage and split it in two. Half would be a competitive long-term fixed-rate deal, for security against rate increases. The other half would be a flexible tracker, to allow overpayments. The total sum would be the same as it is now (and much less than the value of the house).

Are there any mortgage companies that will provide this kind of deal?

_Andy_

Yep there's plenty.
If overpayments are what you're after though, most fixed rates will allow a degree of overpaying without penalty as standard.

koexelek

As Andy says, most lenders will do that.

Only issue is, if you want two different products, you will normally be looking at two separate arrangement fees.

beniamino

Very interesting. The appeal is not only overpayments, but also to reduce exposure to interest rate fluctuations in both directions while retaining some of the benefit of cheap trackers. I suppose both mortgages have to come from the same provider?

_Andy_

Yes otherwise one would be a mortgage and one a secured loan (second charge).