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Can you do this with additional borrowing...
IAMIAM
Posts: 1,394 Forumite
Apply for additional borrowing up to 75% LTV to secure the rate, then reapply for the extra additional borrowing you need to take me up to 80% LTV rate, but only pay the extra 5% at the high 80% LTV rate...
Then in two years time (or potential 2 years and 1 month due the extra product and misaligned dates) remortgage again onto a new deal but hopefully all at 75% LTV due to price increase...
Then in two years time (or potential 2 years and 1 month due the extra product and misaligned dates) remortgage again onto a new deal but hopefully all at 75% LTV due to price increase...
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Comments
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Usually 6 months between further advance applications. If not then in theory its possible.0
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@iamiam Don't know about FD but HSBC additional borrowing requires a 6 month gap and a £10k minimum for additional borrowing.
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Great. Thanks for that.0
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The problem is that you will end up with 2 mortgage parts 6 months apart and then have to juggle at remortgage time or pay a penalty to leave.0
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Agreed, Ive decided on a no fee tracker though for the extra borrowing - so should all align nicely when needed0
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