Porting mortgage, can I extend the term

ShadyEssence

I have been told by my current mortgage provider I can port my mortgage. I'd like to borrow 40k more for the next house which I understand will be on whatever the current rate is at the time of application. With interest rates going up can I extend the whole mortgage term to make this more affordable for myself. 

I currently have 19 years left on my mortgage but when I port can I increase that to 30 years? 

The extra is within their affordability criteria for me to borrow more but I don't want a high monthly payment right now.

Ibits4321

Usually yes, but sometimes if you've got an amazing deal that they're no longer keen on you having they can insist that part stays on the original term and your new borrowing can be for the extended term (assuming you're the right age etc). Happened to me 

K_S

ShadyEssence said:

I have been told by my current mortgage provider I can port my mortgage. I'd like to borrow 40k more for the next house which I understand will be on whatever the current rate is at the time of application. With interest rates going up can I extend the whole mortgage term to make this more affordable for myself. 

I currently have 19 years left on my mortgage but when I port can I increase that to 30 years? 

The extra is within their affordability criteria for me to borrow more but I don't want a high monthly payment right now.

@shadyessence Depends on the lender but in most cases yes assuming you meet the lender's age/term criteria. I've done this most recently with a Santander port where the client wanted to extend the term for the same reason as yours.

If the lender says no direct, do check with a broker as well before giving up on the term extension.

GAMBITv5

We did exactly this with nationwide last month with more extra borrowing than your scenario so hopefully should be fairly simple