Quick Question.....

EdwardR_2

I have a mortgage with Halifax, I have recently fixed in at 4.54% for 5 years. My mortgage is £80,000 which is roughly 40% LTV.

We would like to move from our 3 bed to a 4 bed and think we'd need an extra 30k to 40k to achieve this. My question is, Would it just be a case of asking them for the money? or would we have to apply again? Also would they have to look at all our income/expenditure again?

Any help is much appreciated.

herbiesjp

You would need to port your current deal

This is treated like a brand new application, and so yes they would need to go through the whole proces again

Please note that they are under no obligation to agree the "port" if you are now outside of their lending criteria.

Also, the extra borrowing would have to be on a new current deal, as opposed to the 4.54% rate

seaneen1982

Hi, this is similar to my own position - I have been with Halifax for a couple of years, and recently fixed for 5 years with them at 4.69% (mortgage =£105,000).
Then decided I'd really like to move house, so I phoned them and asked them what my options were - they said I could port the 4.69% to pay for £105,000 of the new house, and take out an extra amount at a different rate (probably about 35,000k at 5-6%), which means paying another product fee of up to £999. Also, I'd need to have 15% deposit for the new house.