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Moving to a more expensive home with additional borrowing
Options
LXGB
Posts: 88 Forumite
Hi All,
I'd value any advice you may have to offer on the following...
I am one year in to a fixed rate ten year mortgage with Barclays. I'm looking to move to a bigger house and would need to borrow extra money to do this.
The overall LTV would still be less than 80%. My salary multiples and affordability calculations indicate they would not be a problem.
1. Are there any options other than talking to Barclays about a top-up loan or additional mortgage product?
2. Do you think Barclays would not be inclined to give me a good rate on any further borrowing as I'm already tied to them with my existing ten year mortgage?
Thanks for taking the time to read this.
Regards,
LXGB
I'd value any advice you may have to offer on the following...
I am one year in to a fixed rate ten year mortgage with Barclays. I'm looking to move to a bigger house and would need to borrow extra money to do this.
The overall LTV would still be less than 80%. My salary multiples and affordability calculations indicate they would not be a problem.
1. Are there any options other than talking to Barclays about a top-up loan or additional mortgage product?
2. Do you think Barclays would not be inclined to give me a good rate on any further borrowing as I'm already tied to them with my existing ten year mortgage?
Thanks for taking the time to read this.
Regards,
LXGB
0
Comments
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Barclays will be the easiest and cheapest option for you for raising the additional funds, seeing as you are tied into their 10 year productI am a Mortgage AdviserYou 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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Thanks for the advice.
Cheers,
LXGB0
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