Combining mortgages?

staceydavies

Hi all

I have a woolwich residential mortgage (with a letting permit) at 0.49% over base (lifetime tracker) for circa £75k.

I also have a woolwich mortgage on our main property at 0.99% over base (again a lifetime tracker circa £300k). My husband and I are splitting up, so I want to buy a new property with my share of the proceeds from both properties.

I want to port the £75k mortgage on the lower rate and top it up with £75k from the other mortgaage - do you know if this is allowable?

Thanks all!:D

amnblog

Port two mortgages at once? I don't see that Woolwich will let you do this.

More likely you can port one product and top up on a new product for the extra funds.

Porting is always subject to a number of conditions so your best bet is to speak to the lender, or have a broker investigate for you.

ACG

I have never come across this, your best bet would be to speak to woolwich.

They would(subject to you passing their checks) allow you to part atleast one of them over to the new property and put it solely in your name (ive done that for a client of mine with woolwich). But im not sure about 2 separate.

Its worth asking the question.