How much will it cost if I increase my mortgage?

Posted on 17 December 2007

Hi Katie, I have a mortgage of £50,000 I need to borrow £25,000 more. How much would a £75,000 mortgage cost me?

You can assume half again, roughly. But if you are taking a new mortgage you will have a new interest rate, and can take that chance to look at what term you want so your payments will be calculated on all of those new factors too.

It sounds like you need advice from scratch, you can use our wizard to find a mortgage that suits you, or you can call us on the 0800 358 5560 number above, and talk through your priorities to establish an actual cost and how to apply.

Category: The application process explained

 

Answers provided in response to Ask Bea are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of Charcol Limited. All comments are made in good faith, and neither Charcol Limited nor Bea will accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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