extending mortgage term & other queries

hi all,

we have 2 mortgages which we would like to extend, we are aware we would be paying back more in the long run.

The letter we received says we need to have our mortgage protection policy amended and for the original documents to be returned to them. Also we need to sign the deed of assignment witnessed by a staff member or solicitor and return. Also at the bottom of the letter is recommended we receive independant legal advice - is all this normal ?

We did have 2 mortgage protection policies and we did cancel one of them. We recently found out that we also have 2 income protection policies. I can cancel one of these also. The layout of these policies means unless the documents were scrutinised closely the only difference is the policy number in amongst the rest of the wording. Its easy to miss !

In addition to these above policies, we also have house insurance and life cover, taken out when we got our 2nd mortgage. We are paying out a lot that I am not sure we need.

Is is possible to combine our 2 mortgages into one, by applying as a new customer to the current mortgage provider ? anyone do this ? I am not sure are there any companies taking switchers right now.

Our mortgage & policies were arranged by a broker some time ago and we just want to check that all is now in order.

Thanks for any advice and comments.
Pyrite(still)Pete

There is not always a saving by combining mortgages, you will incur legal fees of a new mortgage and unless the rate you are going to get is better than what you are on then there is no benefit other than having one payment per month rather than two.

Your mortgage protection/life cover/income protection situation sounds messy, might be best to talk to a broker who will look at what you have and see best how to proceed with what you need.