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Buying a new property when i have a mortgage on an existing property.
Habib2342
Posts: 160 Forumite
Hello,
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.
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.
0
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!
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