Mortgage calculators

mercman_3

Hi,

Currently have a mortgage on Nationwide 10yr fixed rate (looking to be a smart move now)

question is we would love to move home to a bigger place that would be circa 90k more expensive

Our current mortgage has only 15 years to run.......want to know how we would be best placed to do this move.....dont mind taking the mortgage back up to 25 yrs plus if required in the short term

Cheers

Pete

UK007BullDog

Well, to give a bit more insight in your case we would need some figures;

Your ages,
Your incomes
Any debts, loans CC's
Mortgage outstanding.

It basically means you are porting your current mortgage over to the new property and asking for a new loan, with a new rate. So in effect you would have 2 mortgages on one house with one lender.

Find out if your lender lets you port and the costs involved.

Your income has to fit both loan amounts for them to agree. As for the length of the mortgage term that depends on your current age as the lender likes the mortgage to finish before retirement of the older person.