adding partner and borrowing more on existing mortgage

Ross95

I've had my mortgage for 5 yrs and would like to add my partner to my mortgage and also borrow £15000 for a new car.
I am currently half way through a 5yr fixed deal which has an early repayment charge of £3800.
We are not sure if to add to mortgage or take a joint personnel loan.
If we get approval to add to mortgage would it be possible to do it on 2 yrs fixed then when current mortgage and new mortgage deals end add them together to negotiate new fixed deal?
The reason we would prefer to add to mortgage is my partner will be contributing to monthly repayments so we can pay more per month bringing down the number of years on the length of the mortgage.
Are we thinking of the right options?

Ktaylor86

My opinion is that personally I would never borrow money on a mortgage for a car. The car could be written off, and the insurance not pay out the full market value. Also car values depreciate rapidly yet you would be paying out for much longer to pay off the value. You have not said what the mortgage term will be, but paying off the extra for a car over say 20 years means you will be paying a huge amount of interest and continue to have to pay it off when you have not even got the car any longer.

Perhaps you will be able to remortgage in both names, then AFTER the mortgage has gone through, if affordable and viable (including if your mortgage interests rates increase) you could take out a personal loan for the car, which means at least this figure will not be secured against your home.

Just my opinion, perhaps someone with more experience of the mortgage side of things and how to go about doing that will be able to advise further.

Good Luck