Additional borrowing with mortgage - Can I remain with one companybut get extra from another



OK. Basically, I want to borrow an additional sum on my mortgage.

Existing lender is happy to do so, leaving my existing balance (£120K)
at my low rate of BS+1.1%, but then providing additional borrowing of
20K at 4.09%.

However, I was thinking. Am I obliged to remain with my lender for
this? Obviously, I don't want to move my entire mortgage off my great
tracker rate, but can I go to someone else for the additional 20K? Im
guessing not.

Am I right that only option is for additional borrowing via existing
lender or secured loan (not mortgage through someone else)?



Anthony R. Gold

If you can find any lender who is willing to make a second mortgage
subordinated loan and at a better rate, then go for it.

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