Help please

Moomoo_5

Hi, Just joined this forum and was wondering if anyone could help me please. Bascially I want to part exchange my house but very confused about mortgages we currently have a mortgae for £65k house valued for about £115k and the house we want to px is £182k so would need a mortgae for about £120k maybe a bit more, to late to work out exact fiqures. Question is would I need to go for a comlpletly new mortgage and pay an exit fee or could my existing mortage up the amount I borrow .

Going to view the propert tommorow so need to be armed with all info that I can get.

Thanks for any advice.

Moo x

Mr_helpful

If your mortgage is portable you can take the benefits with you and top it up. It is a new mortgage and subject to underwriting. the top up part may be at different rates from the original part so beware but it does save exit fees. Otherwise its a case of pay the fees and start again. Check with lender first then see independent mortgage adviser