Additional Borrowing / Redemption Fees?

sillymee

Hi,

My husband has a mortgage on our house with the Halifax. We have just changed to a 2 year fixed deal which, of course, has early redemption fees. We are now looking to buy another property (as we've just sold one which we rented out) and have seen another interesting property which we would need to borrow about £35,000 to buy "outright" with our savings. It's too cheap to get a buy to let mortgage, so we were thinking of extending out current mortgage, if they will let us - not sure if they particularly care, if there is enough equity still in your property? Would they class additional borrowing as a "new" mortgage, thus incurring early redemption fees?

Thanks in advance for any advice