I understand porting a mortgage is the actual interest only which is ported.
We want to move, hoping to get around £100,000 for our house, we are lucky enough to have someone give us £50,000 towards our next place. We owe £20,000 on our existing mortgage.The interest rate is 4.56% fixed until 2016 which we can port.The mortgage actually ends in 2017.
Not sure which is the best way to go about another mortgage, any ideas anyone please? We would only want to borrow over the next 4 years.
We want to move, hoping to get around £100,000 for our house, we are lucky enough to have someone give us £50,000 towards our next place. We owe £20,000 on our existing mortgage.The interest rate is 4.56% fixed until 2016 which we can port.The mortgage actually ends in 2017.
Not sure which is the best way to go about another mortgage, any ideas anyone please? We would only want to borrow over the next 4 years.