Advice Sought - 5 Year Fixed mortgage just come to and end - starting 40k extension.

Sandman_2

Hi All

I am after some advice / thoughts / suggestions on what to do with my mortgage. I have currently finished a 5 Year Fixed mortgage with the Abbey, I still owe about 60k. I have also started to extend the house and estimate the total cost to be in the region of 40k. I am unsure as to whether I should lump the whole amount together and pay off a 100k mortgage or split the amount in two different mortgages ie a 5 year fixed for the 60 and 2 year fixed for the 40.

Are there any benefits to splitting or putting the two together? Is there any other type of mortgage were I could benifit?

Hope you can help, Cheers

Ian.

herbiesjp

What would be your objective in having the two amounts on two different rates?

Sandman_2

herbiesjp wrote:

What would be your objective in having the two amounts on two different rates?

No objective, just wondered if it would be of any benifit for me to do so.