My fixed rate with Nationwide is coming to an end towards the end of the year (end of Oct) and because its an old mortgage I would be moved onto their BMR.
However we would like to make some home improvements and after getting some quotes figure we need to borrow an extra £10,000.
Originally my plan was to leave my existing mortgage to go on to the BMR and borrow an additional £10,000 on whatever rates are available at the time. However Nationwide have now informed us they will not lend the extra as an addition to our mortgage. They recommended a loan instead.
So now I'm looking at moving my mortgage elsewhere at the end of our term. I've never done this before as we stuck with Nationwide last time.
I know rates will change before then but what I'd like to get an idea of us what fees are involved with changing lenders? Solicitors,valuation fees etc?
Nationwide have our house valued at £185k, our outstanding balance is a little under £126k.
I just want to plan so if I need money for fees I want to get an idea of what I'm looking at :)
However we would like to make some home improvements and after getting some quotes figure we need to borrow an extra £10,000.
Originally my plan was to leave my existing mortgage to go on to the BMR and borrow an additional £10,000 on whatever rates are available at the time. However Nationwide have now informed us they will not lend the extra as an addition to our mortgage. They recommended a loan instead.
So now I'm looking at moving my mortgage elsewhere at the end of our term. I've never done this before as we stuck with Nationwide last time.
I know rates will change before then but what I'd like to get an idea of us what fees are involved with changing lenders? Solicitors,valuation fees etc?
Nationwide have our house valued at £185k, our outstanding balance is a little under £126k.
I just want to plan so if I need money for fees I want to get an idea of what I'm looking at :)