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Changing amount of mortgage due
JoBedlam
Posts: 3 Newbie
Hello,
There must be a really simple answer to this please. Current mortgage is £135k, remortgage is due soon, I cannot overpay any more with YBS otherwise I will incur an early repayment charge. I would like to reduce the mortgage with the new provider by £10k with savings so the new provider would lend £125k, how do I do this please? Also does anyone know of any mortgages that allow you overpay with incurring a charge? Thank you.
There must be a really simple answer to this please. Current mortgage is £135k, remortgage is due soon, I cannot overpay any more with YBS otherwise I will incur an early repayment charge. I would like to reduce the mortgage with the new provider by £10k with savings so the new provider would lend £125k, how do I do this please? Also does anyone know of any mortgages that allow you overpay with incurring a charge? Thank you.
0
Comments
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Yes YBS do Offset mortgages which allow unlimited overpayments.
Could you look at a new deal with your existing lender YBS but on an Offset mortgage !1 -
Just apply to the new lender with the lower mortgage and the solicitors will ask you for the difference.Most (but not all) tracker rates will allow you to over pay with no ERC, Coventry used to have a product that was fixed at a higher rate but allowed overpayments. If not an offset mortgage could be the way to go for your needs.1
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