Transfer mortgage sub account to different lender

jra505

Hello,

I've just had a letter from Natwest informing me that my fixed rate period is going to end soon and that I should now choose a new product. My mortgage is actually split into two subaccounts, because I moved house 18 months ago and 1 sub account is effectively the mortgage from my old house and the other subaccount is the mortgage for the new house.

It is the subaccount for the old house which is up for renewal.

My question is this - can I move one subaccount to a different lender, leaving the other one with Natwest?

Any advice would be much appreciated!

jra505

YHM

Unfortunately you won't be able to one sub account to a different lender. All or nothing when it generally comes to remortgaging to another lender

jra505

YHM wrote: »

Unfortunately you won't be able to one sub account to a different lender. All or nothing when it generally comes to remortgaging to another lender

Hi,

Thanks for your reply.

I can't say I'm hugely surprised. Presumably though, for me to transfer both to another lender I would have to allow one of them to go onto a standard variable rate for a few months until the other one is at the end of its fixed period?

jra505

TrickyDicky101

jra505 wrote: »

Hi,

Thanks for your reply.

I can't say I'm hugely surprised. Presumably though, for me to transfer both to another lender I would have to allow one of them to go onto a standard variable rate for a few months until the other one is at the end of its fixed period?

jra505

Or you could pay the Early Repayment Charge on the sub that continues on a fix and move the whole lot - this would clearly depend on any new deal being sufficiently economically beneficial to warrant this.