can we do this?

sprinkly_2

Hi guys,

We've got a current mortgage with a bank, we want to go with another provider and borrow about 15k more.

We're not tied in or anything and have about 16 years left, so want to increase this to 20 years and take the total amount to about 75k.

Is this possible? Its to use on the house and to pay a small loan off.

Thanks

ACG

Potentially.

It will depend on the value of your house, your income, your overall affordability.

sprinkly_2

Thank you.

It's really only worth about 75k also so 100%

Income of around 38-40k

Just the normal household bills and the loan that we want to pay off, no credit cards etc.

TrickyDicky101

sprinkly wrote: »

Thank you.

It's really only worth about 75k also so 100%

Income of around 38-40k

Just the normal household bills and the loan that we want to pay off, no credit cards etc.

Then it's not do-able I'm afraid - there are no 100% mortgages available.

sprinkly_2

yeah, I thought that.

I think I'm better at looking at a secured loan, for the extra over the same amount of time as the mortgage has left, so they can run side by side.

But thank you both for your help.