Posted on: 05th Jan, 2010 03:36 am
I have been told that my Northern Rock mortgage is being looked after by the part of the company that will NOT lend any more money to anyone. My g/f moved into my flat a few months back so that we can save up a deposit (we had been talking to NR for a few months alreayd and been told we CAN borrow more money). SO the situation is we can still port the mortgage, but cannot borrow any more money, of course I can pay the £6k redemption fees (fixed period ends 2012).
The question I have (apart from what the heck can I do!!) is - Is there such a thing as a top up mortgage? So I can port that NR mortgage to the new property, but get another lender to lend us the extra to buy the more expensive house? ie have a property with £120k at NR and about £80 with another lender?
The question I have (apart from what the heck can I do!!) is - Is there such a thing as a top up mortgage? So I can port that NR mortgage to the new property, but get another lender to lend us the extra to buy the more expensive house? ie have a property with £120k at NR and about £80 with another lender?
for those who come along and try to deliver answers to simon based on their experience in the united states: please note that his post concerns property in the United Kingdom. our laws do not apply across the Atlantic Ocean.
Sorry everyone, didn't spot this is a US based site until too late and I had posted my question!
it's quite all right, simon. we get international traffic lots of the time - we just have to be careful with our responses so we don't confuse everyone.