Nationwide Mortgage Question

jason.parker.86

Hello,

We was on a fixed rate mortgage which ended almost 2 years ago, and since we have stayed on the mortgage base rate to take advantage of low interest rates.

My question is should we want to move, would we have to re-sign onto another mortgage deal or could we stay on our current package?

Worth adding we wish to increase borrowing.

Kindest,
J

_Andy_

Subject to meeting criteria (i.e. it's treated as a new application, you could 'port' over what you have and then obtain further borrowing at today's rates.

jason.parker.86

Does that mean id pay 2.5% on balance of mortgage and todays rates on rest?

getmore4less

If you meet the lending criteria. then usualy you can top up with one of the deals available. Some lenders have a specific list for extra borrowings

Good idea not to overpay low rates if you want to move(with more borrowing) and cannot reborrow the money back at same rate.

_Andy_

jason.parker.86 wrote: »

Does that mean id pay 2.5% on balance of mortgage and todays rates on rest?

yes thats right

jason.parker.86

According to my mortgage documents, overpayments can be withdrawn from my mortgage, however I see from Nationwides website this option is not available any more.