re-mortgage advice please

southern_chick

hi, i wonder if anyone can answer a question for me please:

i have a part repayment and part interest only mortgage, the repayment part was taken out after the interest only due to a house move. the capped rate on the interest only part runs out in March next year and the repayment rate runs out in March 2011. the question is if i find a better rate in March next year with a different mortgage lender will i have to move the repayment part as well and pay the early repayment fee or can i have 2 seperate mortgages with 2 different lenders on the same property.

i hope that all makes sense and thank you in advacne for anyone who can spare the time to answer

Sc xx

dwsjarcmcd

Short answer but yes you will have to move the whole mortgage and pay the redemption fee. Ask your current lender what they can offer you for the interst only part, probably best trying to get it as near to the 2001 end date on the other part

southern_chick

thanks for your answer if i can find a good enough deal then it will be worth paying the redemption fee!