A
avon
Guest
Hello,
I am considering a top up to my mortgage to amalgamate a car loan and to also do some refurb work to my apartment.
As I have equity in my property i would consider a top up mortgage for this however after searching the site i still am confused about this process.
1 - when topping up a mortgage eg amount €30,000 on a property with a current LTV of 50% which is on a fixed interest rate mortgage, is the new total loan amount (original mortgage amount and new top up amount) refinanced at current interest rates or is the the top up amount only affected by the latest rates?
2 - Are the only fee's asscoiated to this stamp duty and solicitors fee's and is the stamp duty based on the total value of the property ie will I be charged the maximum level of duty?
I hope this is clear.
I am considering a top up to my mortgage to amalgamate a car loan and to also do some refurb work to my apartment.
As I have equity in my property i would consider a top up mortgage for this however after searching the site i still am confused about this process.
1 - when topping up a mortgage eg amount €30,000 on a property with a current LTV of 50% which is on a fixed interest rate mortgage, is the new total loan amount (original mortgage amount and new top up amount) refinanced at current interest rates or is the the top up amount only affected by the latest rates?
2 - Are the only fee's asscoiated to this stamp duty and solicitors fee's and is the stamp duty based on the total value of the property ie will I be charged the maximum level of duty?
I hope this is clear.