Bonefish Blues
Banging donk
- Location
- 52 Festive Road
Talk to L&C mortgages - they are whole market and I've used them a number of times, always with satisfaction. No connection other than that.
Any mortgage officinardos ?
- Thread starter Levo-Lon
- Start date
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sleuthey
Legendary Member
- Location
- South Gloucestershire
I agree. If it were me I would wait a few months till you get it down to 5k then take out a personal loan with an early repayment option and use that to pay off the remainder of the mortgage. Yes you will be paying a higher rate of interest but I can't see it being "pinned" to your house so you can have more simplicity and freedoms when moving.
bikingdad90
Guru
When we moved we “ported” the existing mortgage and then took out a 2nd mortgage to cover the required extra to buy the house on different terms and interest rate but crucially with the same lender (best offer) and left the other mortgage to run.
In cash terms:
Money from our buyers solicitor was transferred on to our seller along with the principal of the 2nd mortgage we took out.
In cash terms:
Money from our buyers solicitor was transferred on to our seller along with the principal of the 2nd mortgage we took out.
OP
OP
Levo-Lon
Guru
Excellent,we would prefer to port it as we're not intending to borrow more
lane
Veteran
I really wouldn't bother with a £5k mortgage to keep a credit rating - there will be lots of costs associated with it probably. It's also a real pain going through the mortgage process these days not like it used to be.
Pay off the mortgage. Use and repay on a credit card as suggested or just buy some bike bits on zero percent interest from Tredz now and then to keep the credit rating live.
Pay off the mortgage. Use and repay on a credit card as suggested or just buy some bike bits on zero percent interest from Tredz now and then to keep the credit rating live.
