Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Evening all.
Me and the missus are looking to move into our second home. At the min, we have a fixed mortgage on a 3 year deal, which ends 08/11. I know we would be subject to a fee if we repaid the mortgage, but i have heard halifax will let you move in that period.
Whats the score with borrowing more money? I expect to have around 15k in equity (100k mortgage on a 115k property) Although, alot of people have said i would get more than that.
If i was to say ask to borrow more money, say up my loan to 115-120k, which we can easily afford the repayments on, would they do it? or am i gonna need to put more money down etc?
I know i need to call them etc, but there shut and i thought id ask u clever lot in the meantime lol
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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There wont be an early settlement fee if you borrow more from them, whether you can borrow more will be subject to your personal circumstances.
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a_j_mair
Member
Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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you arent setteling just moving house, will only be early settlement if you are paying off the mortgage and taking out a new mortgage with new provider
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Thats ok then. Just hope i dont need to put any extra cash down to move, because that will be a problem lol.
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t_benn_1
Member
Registered: 28th Sep 04
Location: Shropshire
User status: Offline
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thats useful. we've bin waiting for the fixed term to end also next year. may start looking around now.
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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HOLY SHHMOLLLY
Just called halifax to see what they can do.
Basically, i can borrow as much as i like up to 190k and thats on 90% LTV (which is fucking good)
2 yrs ago when we bought first place, we just managed 105k mortgage, our finacials havent changed one bit, and we can now borrow 190k? lol, crazy
With regards to the already fixed mortgage, we carry on with that, and add a new lump onto it, with a different rate, which we would have to choose upon deciding what we want to spend.
Well happy 
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
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Yeah you are just porting your existing product
Corsa 2.0 16v Vegas - Sold
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Halifax offered me way more than anyone else but further into discussions it turned out we needed 25% deposit when we only had 20% max to lay down. 90% LTV has pretty much been unheard of for the past year or so. We must be coming out of recession right enough.
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Yea, he said do you bank withus, if so, we can do 10% LTV instead of 15%
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