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Second Mortgage Advice Please
countrycat
Posts: 30 Forumite
Hello all,
just about to get a second mortgage to fund a small but very expensive extra bedroom and shower room. Our current mortgage runs for 9 years and 4 months and is fixed until Jan 2018. Would we be better getting our second mortgage to run alongside it at the same timescale so we can amalgamate them in Jan 2018 to a good deal OR is it better to keep them as separate and concentrate on overpaying the initial one ?
If we keep them as separate can we still move them both to a different place with a better deal or are we tied to the current bank we have them with?
Your thoughts appreciated.
just about to get a second mortgage to fund a small but very expensive extra bedroom and shower room. Our current mortgage runs for 9 years and 4 months and is fixed until Jan 2018. Would we be better getting our second mortgage to run alongside it at the same timescale so we can amalgamate them in Jan 2018 to a good deal OR is it better to keep them as separate and concentrate on overpaying the initial one ?
If we keep them as separate can we still move them both to a different place with a better deal or are we tied to the current bank we have them with?
Your thoughts appreciated.
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