We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Can I split my mortgage between 2 lenders?
SMDPM
Posts: 1 Newbie
My mortgage is with The Derbyshire and has a number elements with different conditions. One element ends this year but other elements are still tied in to a fixed rate until the end of 2011.
Is it possible to move part of my mortgage to another lender whilst leaving some with The Derbyshire so that I don't incur early redemption charges?
Is it possible to move part of my mortgage to another lender whilst leaving some with The Derbyshire so that I don't incur early redemption charges?
0
Comments
-
Only if you took out a second charge secured loan which would be at a pretty high interest rate.
Why not stay on SVR until the remaining fixed expires?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 -
No, All mortgage lenders will want a first charge.
You could get a secured loan with a second charge, but that would be very expensiveI 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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards