Mortgage advice

[JAN2410]

Hi All

Just after some advice really. Me and my husband have been in a dmp since feb this year and its going really well. Due to the fact that we both travel a fair distance to work and it is costing us a fortune in petrol we were thinkin about moving closer to both our works. We have never ever missed a mortgage payment with our current lender (whom we hve been ith for 3 years) and we were woundering what the likelyhood would be of us being able to get another mortgage of 90% (the same as we have now). We want to buy a cheaper house and somewhere closer to work - to reduce our outgoings...it seems like a good solution...just not sure of our chances...Any advice would be much aprecated.
[:D]

[Welsh Boy]

JAN2410

Why don`t you contact your existing lender and ask if your present mortgage can be ported on to another property.

They already know your excellent payment profile and that should be in your favour. Tony

[kallis3]

Hi,

You may find it difficult to get a 90% mortgag.

Hopefully Tony Parsons (Welshboy) will pick up on this and advise.

[JAN2410]

Thanks Tony, is this something that most lenders do? would they keep it at the 90%? thanks

[MelanieGiles]

A lot of lenders do allow mortgages to be ported from property to propert, and I am sure that Tony would be happy to help you with this off line if necessary.

[JAN2410]

Thanks Melanie...If he has the time this would be great...all we want to do is to try and cut our outgoings and travel time down. Do you know how i would get hold of him? :-d

[kallis3]

You can find his details under the expert link on the left hand side of the page.