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presently i owe a £1 on my mortgage (lucky me) but am thinking of upgrading my abode and am thinking of borrowing around 15-20k, am i right in thinking that i can just add the 15-20k to the £1 i owe? leaving me without the hassle of taking out & paying the setup costs for another mortgage
cheers
:)
cheers
:)
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Thinly veiled "I've paid off my mortgage" fred!!.
However, when you do, they (most responsible lenders) advise you to keep a nominal amount (£1) outstanding for the very benefit you quote. Not sure who you are with but this worked perfectly for us (Nationwide) when one of our daughters need a "hand" (well more of an arm and a leg really). Good luck. i
However, when you do, they (most responsible lenders) advise you to keep a nominal amount (£1) outstanding for the very benefit you quote. Not sure who you are with but this worked perfectly for us (Nationwide) when one of our daughters need a "hand" (well more of an arm and a leg really). Good luck. i
Gresty
Actually no. You will need to apply for a new mortgage with your own lender or another lender. There are some lenders that will provide a free valuation and cash back even on very small loans. Obviously this is very valuable when you are taking sucha s small mortgage. A 1% differnece in interest rates is only £10 a month, the benefits of free valuation and cash back could be as much as £1000.. DOnt be naive my friend
Actually no. You will need to apply for a new mortgage with your own lender or another lender. There are some lenders that will provide a free valuation and cash back even on very small loans. Obviously this is very valuable when you are taking sucha s small mortgage. A 1% differnece in interest rates is only £10 a month, the benefits of free valuation and cash back could be as much as £1000.. DOnt be naive my friend
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