Hi,
I bought a house last year for 300k. I got 100% mortgage from my bank. My mortgage repayment interest rate is 3.8% at the moment (applicable to 100% mortgage).
Now the price of my house has risen to 350k and hence I'm actually borrowing around 85% of the cost of my house.
So instead paying 100% mortgage interest rate (3.8%), can I ask my Bank to reduce it to 85% mortgage interest rate(3.65%)?
I bought a house last year for 300k. I got 100% mortgage from my bank. My mortgage repayment interest rate is 3.8% at the moment (applicable to 100% mortgage).
Now the price of my house has risen to 350k and hence I'm actually borrowing around 85% of the cost of my house.
So instead paying 100% mortgage interest rate (3.8%), can I ask my Bank to reduce it to 85% mortgage interest rate(3.65%)?