remortgage term dilema

kokolino23

Thanks for all your replies so far.
After discussing our situation with a mortgage broker on Saturday, something else was brought to our attention.
Our current mortgage is 68k but we'll pay another 6 months so will come down to 64k by the end of the existing deal.
We've got savings and can pay 45k which will leave us with 20k on the mortgage.
If we are to remortgage now, how a lender can give us 20k now when the amount left to pay is 68k ?!

Bluebell1000

You can get an agreed remortgage for £20k starting in 6 months time. You will be responsible for paying the difference at the point that the new mortgage starts.

kokolino23 said:

Thanks for all your replies so far.
After discussing our situation with a mortgage broker on Saturday, something else was brought to our attention.
Our current mortgage is 68k but we'll pay another 6 months so will come down to 64k by the end of the existing deal.
We've got savings and can pay 45k which will leave us with 20k on the mortgage.
If we are to remortgage now, how a lender can give us 20k now when the amount left to pay is 68k ?!

kokolino23

I spoke to a mortgage broker this morning and he told me the same thing.