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re mortgage help please!
georgem
Posts: 22 Forumite
I currently have 2 mortgages -both same provider
1) Repayment £83k home (wife and i) (3.05%)
2) Interest only £95k flat which we rent (brother in law and i) (3.99%)
The first mortagage is up for renewal in NOV and my current provider cannot offer anything competitive (4.99 fix).
The second is not up for renewal until Nov next year but as it is a discounted product based on a sliding scale -3% off 1st year 2% in the 2nd year and now 1% off in the 3rd year it has now become very expensive and thefore i need to move it despite 1000k early repayment fee.
I was thinking of consolodating and switching my 50% of the 95k intrest only loan into my main capital repayment mortgage? is this possible or would i need to keep them seperate?
1) Repayment £83k home (wife and i) (3.05%)
2) Interest only £95k flat which we rent (brother in law and i) (3.99%)
The first mortagage is up for renewal in NOV and my current provider cannot offer anything competitive (4.99 fix).
The second is not up for renewal until Nov next year but as it is a discounted product based on a sliding scale -3% off 1st year 2% in the 2nd year and now 1% off in the 3rd year it has now become very expensive and thefore i need to move it despite 1000k early repayment fee.
I was thinking of consolodating and switching my 50% of the 95k intrest only loan into my main capital repayment mortgage? is this possible or would i need to keep them seperate?
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