I was wondering whether anyone could help me with a quesiton on getting a larger mortgage:
Current situation is we have a repayment mortgage with £138000 with 16 years remaining with C and G on 2% above BofE rate
We would like to move into a larger property of circa 270k.
We will have approx 15% deposit to move with.
Can we keep our exisiting mortgage and take a second mortgage for the remainder money on a longer term for the rest of the money or will we have to take out a larger mortgage for the total money.
In regards to affordibility we have a combined income of £65k and no outstanding debts.
Would this be a non starter?
Current situation is we have a repayment mortgage with £138000 with 16 years remaining with C and G on 2% above BofE rate
We would like to move into a larger property of circa 270k.
We will have approx 15% deposit to move with.
Can we keep our exisiting mortgage and take a second mortgage for the remainder money on a longer term for the rest of the money or will we have to take out a larger mortgage for the total money.
In regards to affordibility we have a combined income of £65k and no outstanding debts.
Would this be a non starter?