We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Can you borrow more on a fixed rate mortgage?
Options
ballisticbrian
Posts: 3,991 Forumite
in Loans
Can you borrow more on a fixed rate mortgage?
I want to refinance my partners loan on a better rate, can I add it on my mortgage and what will happen to the fixed rate on there? (the base rate has gone up since I fixed for 5 years)
My partners loan is a long term loan on 7% which needs looking at. Any advice welcome!
I want to refinance my partners loan on a better rate, can I add it on my mortgage and what will happen to the fixed rate on there? (the base rate has gone up since I fixed for 5 years)
My partners loan is a long term loan on 7% which needs looking at. Any advice welcome!
Warning: any unnecessary disclaimers appearing under my posts do not bear any connection with reality, either intended, accidental or otherwise. Your statutory rights are not affected.
0
Comments
-
Any additional borrowing will be treated as new seperate application.0
-
Does that mean a separate mortgage application or is an application something you can have more than one of in a mortgage?Any additional borrowing will be treated as new seperate application.Warning: any unnecessary disclaimers appearing under my posts do not bear any connection with reality, either intended, accidental or otherwise. Your statutory rights are not affected.0 -
Making unsecured debt secured is not a great idea.
7% isn’t that bad a rate. How much is outstanding on the loan? How long has it got left?0 -
I don't have the exact figures in front of me but it was about 15,000 over 80 months.How much is outstanding on the loan? How long has it got left?Warning: any unnecessary disclaimers appearing under my posts do not bear any connection with reality, either intended, accidental or otherwise. Your statutory rights are not affected.0 -
ballisticbrian wrote: »Does that mean a separate mortgage application or is an application something you can have more than one of in a mortgage?
A mortgage is the legal charge placed on a property to secure the debt owed.
You can have multiple loan accounts from the same lender secured under the one mortgage charge.
A mortgage has become the term for a loan secured by property as surety.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.8K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.6K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards