Second mortgage due to five year fixed

Jonathan1981

Hi
I hope I'm in the right place. Just looking for any advice.
I have a five year fixed mortgage with Nationwide that run out in about a year. I'm moving house and need to increment my mortgage, which due to the five year fixed, I think means taking out a second mortgage?
I just wondered whether I have to take out the second mortgage with Nationwide or whether it simply makes sense to do so? The five year fixed is on a high rate, so could it be viable to pay the early redemption charge and move? Any advice welcome.
Cheers
Jon

dimbo61

You need to look at all the costs ?
LTV, income, equity, ERC with Nationwide, Interest rate, additional borrowing and rate Nationwide might offer you ? Exit fees, legals, survey etc
What are you looking for ? Some excellent 4&5 year deals on the market.

libf

Can you port your existing mortgage? If not, then you will need to pay the early redemption charge when you sell.