Hi,
We have a mortgage with ulster bank our 3 years fixed is ending at the end of August and we intend to fix again for 2 years at 2.3%. I rang today to see if we could get a top up on our mortgage to convert our attic. I done some rough calculations and I think with the top up and the lower rate our payments would onlybe slightly higher than they are now.
I was told we would have to come in for a meeting which is fine, but they said we'd have to do a whole new mortgage application.
Is this the norm for a top up? I thought it would be a lot more straight forward.
House is worth approx 390-400,000
Mortgage balance is 228450
Top up amount approx 20-25,000
Any advice or information would be great
We have a mortgage with ulster bank our 3 years fixed is ending at the end of August and we intend to fix again for 2 years at 2.3%. I rang today to see if we could get a top up on our mortgage to convert our attic. I done some rough calculations and I think with the top up and the lower rate our payments would onlybe slightly higher than they are now.
I was told we would have to come in for a meeting which is fine, but they said we'd have to do a whole new mortgage application.
Is this the norm for a top up? I thought it would be a lot more straight forward.
House is worth approx 390-400,000
Mortgage balance is 228450
Top up amount approx 20-25,000
Any advice or information would be great