Dual mortgage help required please

maninthestreet

alcot33uk wrote: »

Are both these debts secured on the same property? - YES

If so, I'd expect there to be a single mortgage, in joint names, with two different mortgage products running alongside each other. - Nope, 2 separate

Fixed or variable? Until when? - fixed, due now for 1, other in 2 years

Costs of penalties and organising the new mortgage may outwieght the saving in rate of changing lender.

How much is your property worth? - £190k (thats the going price of smaller properties on same development)

How much do you owe in total (£465k?)?
What are your incomes? - £30K and £25K
When are their no penalties on your existing 5.9% products?, none on 1, 2 years on second

Answers to these questions will help posters to make suggestions. - hope that helps....

If my reading of the above is correct, you have debts of £465K secured on a property worth only £190K - is that correct?

getmore4less

maninthestreet wrote: »

If my reading of the above is correct, you have debts of £465K secured on a property worth only £190K - is that correct?

I think there was a typo early on and it is £101k + £64k £165k