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off set mortgage
Pinkpoppy
Posts: 1 Newbie
I'm new but have been a fan of this site for ages
Anyway, I wonder if anyone can help me or give me advise please, a few years ago we wanted to remortgage our house,and our bank RBS advised us to have an offset mortgage, dont know why we dont have that much savings to offset it against.
We now owe £65,000 and it has 11 years to go, and pay £650 per month.
We would like to borrow another £15000, to finnish off an extension and decorating and other things, so should we take out a new mortgage altogether, or just add on to this one, still want it to be paid for in 11 years.
Our house is worth £220,000
Anyway, I wonder if anyone can help me or give me advise please, a few years ago we wanted to remortgage our house,and our bank RBS advised us to have an offset mortgage, dont know why we dont have that much savings to offset it against.
We now owe £65,000 and it has 11 years to go, and pay £650 per month.
We would like to borrow another £15000, to finnish off an extension and decorating and other things, so should we take out a new mortgage altogether, or just add on to this one, still want it to be paid for in 11 years.
Our house is worth £220,000
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