Porting a low LTV mortgage

JayZed

Let's say I currently own a property in which I have quite a lot of equity and I remortgage to a portable mortgage on a good rate because I'm below the 60% LTV threshold.

Then let's say six months later I trade up to a more expensive property, for which I need to borrow a total of (say) 76%. Obviously I will need to take out an additional mortgage from my lender to make up the difference, which will presumably be at a higher rate because my LTV is higher.

But I'm also porting my original mortgage. Will that portion stay at the same rate, even though my overall LTV is now well above 60%? If so, then presumably it's worth borrowing as much as I can (within the 60% LTV threshold) on my current property?

Trying_to_be_good

It's unlikely they'd let you 'port' the 60% LTV unless you still met that criteria. You'd probably have to take out a higehr LTV mortgage for the whole amount, and have to pay a second lot of arrangements fees etc.