Home mover mortgage with current lender help please

molocash_2

This question may well have been asked before, so I apologise in advance.

I have just recently remortgaged my current home to a new fixed 2 year deal, back in October 2009.
Now, the house we have dreamed of has just come onto the market, which would be our "forever home". This has gone on sale for £300,000. Our house is currently valued at £240,000 and we have a current mortgage of £175,000 over 17 years.

My question is this???? and I know some of you will scream at me for even suggesting it but.....I want to keep with my current lenders and they have said that I can just port my current deal and get a second (running???) mortgage for the rest I need to borrow, which would be about £60 (if my calculations are in the right area). What I really want to know is can I up my current deal to a 25 year term (instead of my current 17 years) to bring the new repayments down for the two combined mortgages? Is this something that is possible?
They have told me that the extra (running) borrowing can be for any term amount and I just wondered about my current mortgage as I have only taken it out 5 months ago?

Any help/suggestions would be great please. I

VIGILANT22

the only person who can answer this 100% is the people you have borrowed the money from....the lender, phone them and ask........

molocash_2

thank you, I was just not sure if it was something that was a common thing or not.

VIGILANT22

In "days gone by"...an answer would have been easy...however now they change criteria by the day/hour...asess cases individually etc it would be wrong of someone to give you a definite answer....it also depends on the flexibility of the lender as that varies also....the fact you're changing the conditions of your first mortgage they may say no??..buy you may call and they will say yes..