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mortgage question need help
needabargin_2
Posts: 20 Forumite
hi guys
wonder if someone can help me with a question????....
i have found a house that i like with the equity in my current house it would mean i actually have left over cash from the sale and purchase which i am going to keep hold of and do some improvements to the new house
my question is since i wont want to borrow extra money on my mortgage should it be easier to transfer it from my current address to the new one
thanks in advance
steph
wonder if someone can help me with a question????....
i have found a house that i like with the equity in my current house it would mean i actually have left over cash from the sale and purchase which i am going to keep hold of and do some improvements to the new house
my question is since i wont want to borrow extra money on my mortgage should it be easier to transfer it from my current address to the new one
thanks in advance
steph
always looking for a bargin
0
Comments
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You could try to 'port' your current mortgage if the lender allows this.
Why not speak to a 'Whole of Market' broker? It may be that there is a better deal available for you elsewhere. If not try the porting option. That way you have covered most possibilities.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
better to stick to simple English
what do you mean
that you are buying a cheaper house than the one you are selling
just tell us
the price of your current house
the mortgage on it
the price of your new house
what the mortgage situation is
anything else relevantEU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
better to stick to simple English
what do you mean
that you are buying a cheaper house than the one you are selling
just tell us
the price of your current house
the mortgage on it
the price of your new house
what the mortgage situation is
anything else relevant
just tell us
the price of your current house 95K
the mortgage on it 55K
the price of your new house 85K
what the mortgage situation is since my fixed rate of 5 years has finished i now go to base rate (0.50%) + 0.75 % = 1.25%
the extra £10k i have left over would be for work in the new house
hope this makes more sense??
Opps ment 85K for new house not £45Kalways looking for a bargin0 -
you will not be able to have a £55k mortgage on a £45k house0
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