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Two part mortgage
Sofee3
Posts: 96 Forumite
I currently have a fixed deal for 3 years with Halifax and we are borrowing more for an extension, the extra money will be on a 5 year fixed rate. The LTV on our first part was just under 50% and on extra money we have borrowed up to the 85%.
When we redo the 1st part in 3 years is this still on the lower LTV or is it on the just under 85% LTV by that point?
Confused!
Thanks
When we redo the 1st part in 3 years is this still on the lower LTV or is it on the just under 85% LTV by that point?
Confused!
Thanks
0
Comments
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A new product will be based on the LTV at the time, so the then current value divided by the then current total borrowings.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.1
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