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Advice Needed Please Re Additional Borrowing
mumof2girls_2
Posts: 154 Forumite
Hi Everyone,
I need some help regarding additional borrowing please.
My mortgage is 61k (Nationwide) property value in current market £165k. We took out 5 year fixed rate of 6.18% last August.
I need to make some very much needed home improvements which equate to 30k.
Do they add this to my current mortgage or is it something separate altogether? and will I have to pay 6.18% on it too as I was hoping to get a better deal.
I have read Nationwie website but cant make head nor tail of it.
Any help or advice would be much appreciated.
I need some help regarding additional borrowing please.
My mortgage is 61k (Nationwide) property value in current market £165k. We took out 5 year fixed rate of 6.18% last August.
I need to make some very much needed home improvements which equate to 30k.
Do they add this to my current mortgage or is it something separate altogether? and will I have to pay 6.18% on it too as I was hoping to get a better deal.
I have read Nationwie website but cant make head nor tail of it.
Any help or advice would be much appreciated.
Wedding on hold until 2011. Mummy to DD1 3/2/6 DD2 5/10/7! Mortgaged to my eyeballs!
0
Comments
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Speak directlly to nationwide, they will talk thru the further advance process ...........it is v straightforward0
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Assuming your income can support the new total amount requested Nationwide will offer you a current mortgage deal on the new extra £30k requested
As feisty says, give them a call and they will walk you through the process.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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