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Buying a new property when i have a mortgage on an existing property.
I am interested in buying a property in Uxbridge that is worth £115,000 with 100 years left on the lease.
I already own another property worth £115,000 with 85 years left on the lease and 10 months left on a 4 year fixed rate deal at 4.69%.
Is there a way of transferring my exisiting mortgage onto the new property and do I have to sell my current property in order to do this ?
My lender is Alliance and Leicester and I am planning to phone them this week to discuss this and any additional borrowing I may be eligible for.
Many thanks,
Habib Hussain.
Comments
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You need to speak to the lender. Only they will know whether or not your mortgage is portable£2 Savers Club #156!
Looking for holiday ideas for 2016. Currently, Isle of Skye in March, Riga in May, Crete in June and Lake District in October. August cruise cancelled, but Baby due September 2016! :j0
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