We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
remortgage
Options
cmgames
Posts: 91 Forumite
My current fixed rate mortgage is coming to an end and I am looking to remortgage to a dnew provider.
I have just received a form from my new mortgage providers solicitor requesting me to fill in an 'initial detail response form'.
My query is regarding one of the questions in the form. The question states "if I am reducing my mortgage please enter the amount of reduction in the box".
Does this mean I should include any overpayments I plan to pay? I am currently overpaying my mortgage by £500 per month. I will be switching to the new mortgage provider in two months time and therefore would have overpaid £1000 before the new deal commences. Therefore, should I write this on the form?
I have just received a form from my new mortgage providers solicitor requesting me to fill in an 'initial detail response form'.
My query is regarding one of the questions in the form. The question states "if I am reducing my mortgage please enter the amount of reduction in the box".
Does this mean I should include any overpayments I plan to pay? I am currently overpaying my mortgage by £500 per month. I will be switching to the new mortgage provider in two months time and therefore would have overpaid £1000 before the new deal commences. Therefore, should I write this on the form?
0
Comments
-
I don't think they are talking about overpayments. They are talking about borrowing less than you currently owe.
You should ask them for the definitive answer.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards