New small mortgage or loan?

EssexGirl

We have a small mortgage of £38k and are selling up and moving area. The new place is cheaper than the current house, so we could effectively pay off our mortgage early with the house sale. But we would like around £10k to do a few bits to the new place. We were wondering if it would be better to get a new mortgage of around £10k or a loan of the same amount and pay off in 5 years instead of the 7 years the mortgage still has to run?

Our mortgage is in 3 elements from the original mortgage and 2 remortgages. We know we will have to pay the early repayment charge. Could we say repay 2 of the elements and keep the £9k one or would we still need a new mortgage anyway?

getmore4less

If you have decent rates why not port the bits with ERC if the lender will let you and overpay to the max.

What are the details of the 3 sets of borrowing?
Amount, rate, term(fixed&full), payment, ERC.

Good chance porting the lot will be cheapest.