Need some Mortgage Advice..

fazmufc

Hi all,

I hope you dont mind me asking some questions regarding my mortgage.

I was a first time buyer 18 months ago. Put down a 30k depost on a house purchased for £90k.

I took out a £60k mortgage on a 25 year basis. I am hoping to pay it of as soon as possible really, as i am saving towards it. But i want to know as i am currently fixed rate for 2 years on a 25 year mortgage, is there anything else can i do once my 2 years is up so i can continue to pay a low rate?

Say also if i was to buy another house and i want to put this up for sale, is there way me to get some money from this house to another house?

I am still deciding what to do next but any advice would be a massive help.

Thank you

ACG

You can transfer to a new deal although its usually cheaper to remain on the SVR (not always the case though) you also then risk it going up if the lender decides to increase their rates.

If you sell the old property you will have however much equity is in the old property to put towards the new one.

Judging by your questions you might be best speaking with an advisor on what your options are.