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Mortgage Question
mercman1969
Posts: 871 Forumite
Hi,
We were lucky enough to take out a 10yr fixed with Nationwide 2 years ago.
We have approx 12 yrs left to run
Question is: Our circumstances have changed somewhat over the last 12 mths. Is it possible to alter the length of time of our mortgage but still keep the fixed rate?
This is only a short term requirement for possibly next 2 years to free up a little money that is desperatly needed
It seems like a logical and easy answer but is it possible?
We were lucky enough to take out a 10yr fixed with Nationwide 2 years ago.
We have approx 12 yrs left to run
Question is: Our circumstances have changed somewhat over the last 12 mths. Is it possible to alter the length of time of our mortgage but still keep the fixed rate?
This is only a short term requirement for possibly next 2 years to free up a little money that is desperatly needed
It seems like a logical and easy answer but is it possible?
0
Comments
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The only way to answer this question is to (a) read your mortgage documentation - you MAY have flexibility built in, or (b) call nationwide and ask them. It is possible, but would depend on the rules of your particular mortgage.
Another possibility, is to leave the mortgage as is, and take out an unsecured , or a secured loan, to sort out your short term requirements. As always, pay these back as quickly as you can - and obtain free advice if you can!I am a Mortgage adviser
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.0
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