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Porting mortgage
mcowan77
Posts: 123 Forumite
Hi
Currently in a fixed rate mortgage with Coventry BS until 31/12/2015
I want to move to a more expensive house. If I remain with them will they give me a bigger mortgage without any penalty?
thanks
Currently in a fixed rate mortgage with Coventry BS until 31/12/2015
I want to move to a more expensive house. If I remain with them will they give me a bigger mortgage without any penalty?
thanks
0
Comments
-
No idea.
Have you tried their affordability calculator, established if you are creditworthy and checked your current product is portable if they will give you another mortgage?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 -
hi
affordabilty is not a problem
my mortgage is portable +5,000?0 -
What's "+5000" the amount by which your new mortgage will be greater than the current one?
You'll apply for the total amount you want to borrow, port the old rate to the first part of the new mortgage, equal to what you owe now and the increased borrowing will usually be offered on one of the lender's current products.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 -
Thanks
That's the info I was after0
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