Advice Needed for Two Mortgages

vikki100

At the moment, my husband and myself are paying two martgages, one on the house that we live in (£550 per month) and one on a house that my husband bought before we were together that his mother lives in rent free (250 per month). Is there any way that we could lump these two together somehow and pay less a month as I am due to be made redundant in May and we have a new baby due in July so need every penny we can get our hands on. Any advice would be great.
Thanks.

herbiesjp

In theory yes you can.

However in reality it would really depend on the figures involved, so your best bet would be to discuss with an adviser if possible.

What mortgage and what value of property1?
What mortgage and what value of property2?

What rates are you paying on each mortgage?

You'd need to make sure that if you did do this, you were not actually worse off after having taken into account fees etc