Can you change types of mortgages?

james_mummy

We are in a fixed rate mortgage for 5 years.

It is part repayment and part interest only.

How easy is it to change to completely repayment?

Thanks

U've_been_framed

Read Martin's articles about mortgages, see if you can find any better deals. Another lender may handle all the transfer details for you. Talk to your current lender and see if they can do the same or similar. Check that you won't get penalised for changing.

herbiesjp

Should be the matter of a call.

There may be a charge incurred to change though

JoeK_3

U've_been_framed wrote: »

Read Martin's articles about mortgages, see if you can find any better deals. Another lender may handle all the transfer details for you. Talk to your current lender and see if they can do the same or similar. Check that you won't get penalised for changing.

Sorry but that wasn’t the question at all. It sounds like you have come out with a message to spread the gospel.

OP, contact your lender and formally request to make the change. As already indicated by my colleague, there maybe an administration charge made by your lender for this.

JoeK