We are looking to move in the next few months and this will require extending our current mortgage. Our fix ends 31 august, and we have approx £96k to pay with a current property value of approx £170k. We are looking to spend another £50 on our next property (ie£220k) which is in our reach salary wise.
A few rookie questions
1. Is the convention to add to this mortgage to have one bigger mortgage rather than 2 smaller ones?
2. We will incur erc if we change providers before end august, so do we just need to extend with our current provider?
3. Should we then remortgage once our fix is up, by contacting a broker like we did in the first place? Will this be a big faff? Baby du first week Sept, so its not convenient to move in the autumn.
There will be more questions no doubt!
Thanks!
A few rookie questions
1. Is the convention to add to this mortgage to have one bigger mortgage rather than 2 smaller ones?
2. We will incur erc if we change providers before end august, so do we just need to extend with our current provider?
3. Should we then remortgage once our fix is up, by contacting a broker like we did in the first place? Will this be a big faff? Baby du first week Sept, so its not convenient to move in the autumn.
There will be more questions no doubt!
Thanks!