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Porting then remortgaging - Problem?
Ju&Mel
Posts: 249 Forumite
Currently looking at moving to a larger house, we have the cash saved for the difference in price/value so no additional borrowing required
The mortgage is a NR together mortgage £115k mortgage + £15k unsecured loan so £130k all together
Our 5 year fixed rate 5.99% ends in November so we were going to port the mortgage to avoid the ERC's which would be somewhere in the region of £4k
The house we are moving to is £165k
This would mean our new LTV would be 79%
We are aiming to pay off more of the mortgage as we will not be having to save for a deposit now to get the LTV down to 75% by November so we can have access to better rates when remortgaging
However it just occured to me, will we be able to get a 'remortgage' in November when our fixed rate ends if we have only been in the house 6 months?
The mortgage is a NR together mortgage £115k mortgage + £15k unsecured loan so £130k all together
Our 5 year fixed rate 5.99% ends in November so we were going to port the mortgage to avoid the ERC's which would be somewhere in the region of £4k
The house we are moving to is £165k
This would mean our new LTV would be 79%
We are aiming to pay off more of the mortgage as we will not be having to save for a deposit now to get the LTV down to 75% by November so we can have access to better rates when remortgaging
However it just occured to me, will we be able to get a 'remortgage' in November when our fixed rate ends if we have only been in the house 6 months?
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