Remortgage question

Tom_Jones

Can you remortgage a house with a second charge on that property ? as the remortgage is to be used to pay off the second charge.

If it is possible is it best to go to the current mortgage provider (Woolwich) or to try a new mortgage company ?

Any ideas would be helpful.

herbiesjp

As long as the lender with the second charge is happy to release the charge, you should be able to do this.

Whether or not it is better to stay with your current lender will depend on your circumstances and whay they are offering compared to the rest of the market.

Pinkleylandii

Hi use the same lender. I secured 3 loans on a property for various things as long as you have the capital in the property.

MortgageGenie

Pinkleylandii wrote:

Hi use the same lender.

Why use the same lender?

If you've got no early redemption penalty to pay then there's no reason to remain with your exisiting lender unless they're offering you a competitive deal and/or their product has some required features you can't find cheaper from another lender.

Have a think about what you would like from a mortgage (flexibility, rate stability, tie-ins etc...) then look around and see what's available at your required LTV/income etc... If Woolwich come out on top stay with them if not move to another lender.