Combining mortgages

RichDD81

We're looking to borrow at additional 20k on our mortgage for some home improvements.

We've got 3 years left on our current fixed rate deal.

My question is, when we remortgage at the end of our fixed rate term, will we be able to combine initial mortgage and additional borrowing into one payment?

Current lender (Nationwide) have said they will always be two separate mortgages, which seems odd to me.

K_S

@richdd81 A remortgage involves changing lenders. If that is what you meant then yes you should be able to combine the two parts into one with the new lender.

If you are talking about a product-transfer/product-switch/rate-switch which simply involves choosing a new product but staying with Nationwide, then what they told you is indeed the case.

Assuming that both parts are no-ERC at the time of your product switch, if you select the same product for multiple parts, you will only pay one fee (if it's a fee-charging product).