Remortgaging Question

MightyMythop

Hi all,

We've a main mortgage which is due to revert to variable rate in August after being fixed for several years. We've also a couple of further advances also on fixed rates (5.19%), one ending 2016, the other 2018.

If we moved lender could we move all debts to one new main mortgage either with new or existing lender?

I assume, one way or another we're likely to incur penalties and/or fees?

Reason for doing this is that with further advances on fixed rates by moving to variable rates, we assume we'd save some money.

Does that sound feasible?

MM

harvey115

You can do a remortgage with a different lender on a different amount as long as you meet their lending criteria.

Wh05apk

You will likely incur penalties on the fixed parts, so you need to weigh up the savings, you may do better speaking to your existing lender and seeing what they can offer, or stay on their SVR, until you can merge all deals together.

This is always the problem with taking further advances, you then end up with several parts tying you in, and none co-inciding.