Remortgaing after additional borrowing

richard_lindsay

Hi folks,

When I remortgaged in 2018 I borrowed an additional sum of money for home improvements. This now shows as 2 products in my mortgage account.

My term ends this year and I was just wondering how it works if I were to remortgage and move away from my current provider. Would both products move the the new provider or would the additional borrowing stay with my current one?

Thanks

Richard

Edi81

You have one mortgage with two sub accounts. 

You would remortgage all of it to another supplier. 

richard_lindsay

Great, thank you.

One last question if that's ok?

When it transfers to the new supplier would the sub accounts be merged together or will I always have two sub accounts?

Thanks

Richard

K_S

richard_lindsay said:

Hi folks,

When I remortgaged in 2018 I borrowed an additional sum of money for home improvements. This now shows as 2 products in my mortgage account.

My term ends this year and I was just wondering how it works if I were to remortgage and move away from my current provider. Would both products move the the new provider or would the additional borrowing stay with my current one?

Thanks

Richard

@richard_lindsay You can't have half and half. If you were to remortgage away from your current lender, the new mortgage (almost always one single part) will be used to pay off the outstanding two parts from your current lender.