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Multiple Mortgage Lenders
Steven_locke
Posts: 1 Newbie
Hi,
We are in the process of selling/buying a property and we are looking to move our existing mortgage with us but we need additional borrowings.
I was wondering if we could go else where for the additional borrowings? Our current lenders interest rates for the additional borrowings aren't as competitive as others. We fixed not so long ago for 5 years not anticipating we will be moving so soon but don't want to have to pay to get out of our current fixed rate if we can simply get a second mortgage from a different lender at a better rate.
There seems to be no advice on this.
We are in the process of selling/buying a property and we are looking to move our existing mortgage with us but we need additional borrowings.
I was wondering if we could go else where for the additional borrowings? Our current lenders interest rates for the additional borrowings aren't as competitive as others. We fixed not so long ago for 5 years not anticipating we will be moving so soon but don't want to have to pay to get out of our current fixed rate if we can simply get a second mortgage from a different lender at a better rate.
There seems to be no advice on this.
0
Comments
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You will need to stick with your current lender for any additional borrowing or pay the early repayment charges to leave.I 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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