Combining Mortgage sub accounts document checks?!

R&C

We moved house in September 2017 & ported our mortgage with Nationwide. This part of the mortgage is due to expire next month. We had to borrow more money to buy this house & I believe we can switch products 3 months early so plan to move onto a tracker rate with no ERC for the ported part of the mortgage until June when hopefully we can combine both mortgages together. Have I understood that correctly?

Also, I was made redundant early in my pregnancy last year, and I’d like to take the whole of 2019 off before looking for work again in 2020. We can afford the mortgage perfectly fine otherwise we wouldn’t have made this decision, although the affordability calculator on the nationwide calculator would say otherwise! If we can combine the mortgages, will this be like a whole new application in which we’ll need to get our payslips re-checked?! In which case should I be looking to go back to work before June?!

Many Thanks.

getmore4less

why do you need to combine the parts.

Nationwide are usually competitive enough to stay with retention deals.

what does each bit look like.
amount
rate
fixed and full term
payment.

kingstreet

You either stay with Nationwide and re-do each sub account as it expires, or you remortgage to a new lender and have all the debt in one sub account.

You will not need proof of income/affordability etc to do the former, you will to do the latter.

You won't be able to reduce the number of sub accounts with Nationwide but you will be able, by using penalty-free tracker be able to get them on the same rate at some point.