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quick question
Sausage_Roll
Posts: 609 Forumite
Hi,
I've not got a mortgage, this is to settle a discussion with a friend.
If I had a £150k mortgage, and had paid off £10k of that, when I sold house and paid the remaining £140k off of that mortgage, would I then have £150k from that mortgage to spend on the new house? Or would that mortgage be settled and closed?
Edit: The mortgage is a portable nationwide mortgage.
I've not got a mortgage, this is to settle a discussion with a friend.
If I had a £150k mortgage, and had paid off £10k of that, when I sold house and paid the remaining £140k off of that mortgage, would I then have £150k from that mortgage to spend on the new house? Or would that mortgage be settled and closed?
Edit: The mortgage is a portable nationwide mortgage.
Please don't pm me asking to eat me because you are hungry.:mad:
I am NOT a sausage roll.
I am NOT a sausage roll.
0
Comments
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I think it's 140k... You may want to check with your colleague of the small print in his paperwork or contact his mortgage provider. That is unless it's something new fangled like an offset which I think may allow you to port it, again I'm not sure on that either.Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370
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