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Nationwide mortgage - porting?
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charleyroo
Posts: 460 Forumite
hi all
i currently have a Nationwide mortgage 2.99% fixed for 4 years at 62% LTV (i'm shared equity)
when i took out my new deal, the advisor said it was portable but i'm not sure if they meant within a similar LTV range.
so i was wondering... can i port this mortgage towards a non shared equity property (which in total would be more like 85-90% LTV)? i've been speaking to my IFA this weekend, and he is not sure so i was going to ring Nationwide tomorrow but thought i'd ask here first in case anyone was particular au fait with this type of thing?
i currently have a Nationwide mortgage 2.99% fixed for 4 years at 62% LTV (i'm shared equity)
when i took out my new deal, the advisor said it was portable but i'm not sure if they meant within a similar LTV range.
so i was wondering... can i port this mortgage towards a non shared equity property (which in total would be more like 85-90% LTV)? i've been speaking to my IFA this weekend, and he is not sure so i was going to ring Nationwide tomorrow but thought i'd ask here first in case anyone was particular au fait with this type of thing?
Spreadsheet-obsessed.
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Comments
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You should be able to port that rate to the same amount on a new Nationwide mortgage, with the increased borrowing on a new Nationwide deal which will reflect the new LTV.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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thanks Kingstreet - it seemed too good to be true that at least part of my mortgage would still be at a nice rate but happy days if it is!Spreadsheet-obsessed.0
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