switching mortgage

R

rosandang

Registered User
Messages
25
hi all, just looking for some advice please,

current situ: outstanding mortgage 94,000 (30yr left)
top-up 21,000
total: 120,000

mortgage 550pm
top-up mortgage 170pm

total 720pm


we r looking to build an extension at back of house, could someone advice me as wat the best way to go about getting our mortgage up to 150,000
e.g. can we combine the mortgage and top-up and get a bit extra to do the build?

thanks in advance
 
Are you eligible for an increased mortgage ie do your multiples qualify etc?

If so a) take another top up b) clear the two existing mortgages and take one mortgage over the total amount.

Shop around for the best rates and make your decision based on your findings. Factor in any legal fees.
 
partner's annual income is 35,000 i'm a sahm with 2 children under 3, i dont intend to go back to work until they r both in school - september 2009
 
Hi,

If I was you, I would remortgage the house with the most competitive Bank you can get the cash off. As long as they will give you the cash it will be no problem. Maybe your own bank is the most competitive, then just take out another top-up

Remortgaging with another bank: Some conditions are that you stay with the bank for 5 years and they pay your legal fees. I had this where I remortgaged and I had to wait with them for five years. I came into some money and wanted to pay off my mortgage. However, I had not been with them for five years so they wanted 1k extra off me for the legal fees. So I reduce the mortgage to 200 euro to be paid off over the remainder, so I fulfilled the conditions
 

Banks paying legal fees are as rare as hens' teeth these days. Most stopped doing so in the past month or two.
 
My local AIB branch manager phoned me yesterday doing a customer satisfaction check ( never known them to do one before ) and she advised switching my mortage to AIB and they will pay €1200.towards legal fees
 
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