Getting a mortgage loan ?

DanielD2008

Hi,

I am looking for information.

My mum is needing a small loan and is going to add it to her mortgage. Her mortgage is about £58,000 so she is going to add £2,000 to it.

How does it work please ? If she pays say £180 per month now what will she pay once she gets the loan ?

Is it as simple as adding £2000 to the length of the mortgage means its only going to be an extra £5 or £10 a month ?

Thanks in advance.

DanielD2008

Anyone !

lol

_Andy_

Well you only posted it less than an hour ago so perhaps be more patient for a start.
In answer to your question, it isn't just added to the mortgage, it's going to be a separate mortgage product. I've no idea what the payments would be as we don't know what mortgage rates her lender offers. If she gives them a call they will let her know. The only problem being they may not offer a further advance for such a small amount. Again we don't know so she needs to ask the question to the lender.