Can someone explain Split Mortgage arrangement

[Banjaxed]

as it says on the tin - can someone explain how 'split mortgage' works ? PLEASE !

It may not even be an option for us - we are looking at a shortfall due after the disposal of BTL property. But I don't understand how it works.

Thanks in advance

 

[Brendan Burgess]

You should complete the following:

Information required for mortgage arrears and negative equity questions

 

[Grizzly]

Back in the day I had a split mortgage. At the time my mortgage was for €100k. I took out a fixed rate mortgage for €40k and a variable rate mortgage for €60k. Both at different rates but both over a 20 year loan termwith the fixed rate for 5 years . I was able to make lump sum repayments off my variable rate portion.

 

[Brendan Burgess]

That is why you should complete the full data. You presumably are not asking about what Grizzly has answered?