Remortgaging part of your mortgage - is it possible?

getmore4less

That could mean no borrower that goes under £25k could ever get a new product.

Seems unlikley.

have you gone through the stuff on-line.
http://personal.rbs.co.uk/personal/mortgages/switch-mortgage-deal.html

http://personal.rbs.co.uk/personal/mortgages/switch-mortgage-deal/after-2004.html

woops looks like they have the info on line after all....

step one of the choose a new deal says.

You can sign in and view your deals if:

Your RBS mortgage started after 31st October 2004

You are within 3.5 months of your existing mortgage deal ending or on a standard variable rate or a current tracker product that has a 'track and switch' facility

You have £25,000 or more left to repay on your single part mortgage

You have £25,000 or more left to repay on your eligible to switch multiple mortgage parts

The term of your mortgage part or parts has at least 27 months remaining till fully repaid

Thrugelmir

getmore4less wrote: »

That could mean no borrower that goes under £25k could ever get a new product.

Seems unlikley.

Why? There's a threshold when it's simply not worth the administrative bother (cost) to a lender.

getmore4less

Thrugelmir wrote: »

Why? There's a threshold when it's simply not worth the administrative bother (cost) to a lender.

Tiny for automated retention deals.

Nice way to trap people on SVR.

[Deleted User]

Yes that seems to be the case then.

Of course, I could in theory apply for £25K more borrowing which becomes a new sub-account. Pretty sure then I could use £18K to pay off my existing sub-account (the one at SVR).

Theoretically, depending on the T+Cs I could then pay off £7K of the new one. Subject to maximum overpayment of course.

getmore4less

Do RBS ofer any liftime tracker?
Could not see any when looking, if not then that is more of a SVR trap.

[Deleted User]

getmore4less wrote: »

Do RBS ofer any liftime tracker?
Could not see any when looking, if not then that is more of a SVR trap.

I've had it for years. Originally with a company called First Active. Had base plus 1.1% rate lifetime with them which is obviously really good so I didnt let that go.

About 5 years ago, RBS took them over so they kept my original deal. About 3 years ago I borrowed more on an RBS deal which added the sub-account and its that deal that has expired.