2 questions....

h158

:hello: Hi! I've got 22 years left on my mortgage which is £70k, equity of £80k, i earn £23k and my current payment is £465 a month, 5.75% SVR (:rolleyes: I know, I know) with the Abbey but am in the process of looking around and re-mortgaging.

Would like to buy a new car that I'll need finance for (c. £7.5k). Best to put it on my mortgage and overpay or get a bank loan so I can see it dwindle down (I wouldn't want to pay for a car for the next 20+ years :eek: and am scared it will 'disappear' into the mortgage. I like to see when I've paid things off. I was originally just looking for a better deal, thereby reducing my mortgage payment so I could 'see' what free money I had to spend on a car. But I feel like I'm doing it the other way round...

2nd one....My boyfriend moved into my house last year. Next year he'll be debt free and we'll be taking his salary into consideration and either a) enjoying ourselves :beer: b) paying more off the mortgage and reducing the term or c) getting a bigger mortgage and either a bigger house or 2nd property. Anyway, I happened to mention this to the mortgage advisor, who suggested I get for example a £120k mortgage now, pay £50k of it straight back to the lender, leaving myself with my original £70k mortgage. He's saying that with the almost inevitable quarter% rise coming next month and talk of interest rates going to 6%, we would secure the mortgage loan at a lower current rate, and if and when I need it next year when b/f and myself go together with things, I can draw the £50k back at the rate that was agreed. He's talking about a fixed rate btw.

Now this is beyond me. I understand mortgages but have heard of this...

Opinions? Advice? Both greatly received! :-)