Additional Lending tie-ins

Radge70

I have a mortgage with Accord which was a 5 year fixed rate deal and has just over 2 years to run.  I am considering taking Additional Lending with them but their website says that there is a minimum term of 5 years for Additional Lending. 
How does this minimum term affect my main mortgage?  Would I need to continue with my mortgage until the minimum Additional Lending period has expired or could I re-mortgage to another lender (or do a product transfer within Accord) and keep the Additional Lending aspect of my borrowings as is until it's own 5 year tie-in ends? 
If the 5 year tie-in on the Additional Lending forces me to keep my main mortgage with Accord beyond the fixed rate deal expiring then I am worried that I would be forced onto the SVR rate until the Additional Lending tie-in ends.
Also, if re-mortgaging on the original mortgage aspect is possible then how would the Additional Lending affect my chances of a re-mortgage being accepted?

Thrugelmir

The additional lending would require you to remain with Accord. Accord hold one mortgage charge covering all separate loan accounts. Remortgaging would require you to move the entire debt. As mainstream lenders require 1st charge on the property. 

You aren't forced to remain on the SVR once the fixed term ends of your existing product. There'll be a variety of options to choose from.  The loans (sub accounts) can remain independent. 

K_S

Radge70 said:

I have a mortgage with Accord which was a 5 year fixed rate deal and has just over 2 years to run.  I am considering taking Additional Lending with them but their website says that there is a minimum term of 5 years for Additional Lending. 
How does this minimum term affect my main mortgage?  Would I need to continue with my mortgage until the minimum Additional Lending period has expired or could I re-mortgage to another lender (or do a product transfer within Accord) and keep the Additional Lending aspect of my borrowings as is until it's own 5 year tie-in ends? 
If the 5 year tie-in on the Additional Lending forces me to keep my main mortgage with Accord beyond the fixed rate deal expiring then I am worried that I would be forced onto the SVR rate until the Additional Lending tie-in ends.
Also, if re-mortgaging on the original mortgage aspect is possible then how would the Additional Lending affect my chances of a re-mortgage being accepted?

@radge70 You will end up with two loan parts and be tied to Accord. When your main loan part ends, you can do a rate-switch for just that part so don't worry about having to go on SVR. While you won't have access to the very best rates, Accord will have competitive options so you are unlikely to be paying too much over the odds by being tied to them.

Radge70

Thanks for the replies, that answers my question perfectly.  
I think I actually may have mislead myself a bit by worrying about the Additional Borrowing term that said "Spread the monthly payments over a shorter period, a MINIMUM of 5 years" as I thought that meant I would need to hold the Additional Borrowing part of the loan for 5 years (thus creating an overlap with the expiry date of my original loan).  Looking at it again though, I think the 5 years just relates to how much you are allowed to pay back each month.  e.g. if you nominate a 5 year term then your monthly payment is a lot more than if you said 25 years. 
Is this correct and in actual fact I could take their 2 year fixed rate additional lending product to tie in it's expiry date with that of my original borrowing (which expires in just over 2 years)?  e.g. I could then re-mortgage the combined value of the original mortgage and the additional borrowing without being subject to early repayment charges on either?

K_S

@Radge70 Yes your understanding is correct.