I'm looking to move house currently. My mortgage provider is willing to move the mortgage we currently have with them (tracker) to the new house.
the problem i have is that they want to only issue the mortgage for a round number of years (slightly less than the remaining term on my current mortgage). I want to have the mortgage match the Life Assurance policy we have so that we don't need to take out another one or reduce the time of the mortgage term (by 1 year).
Are banks only allowed to issue mortgages for a round number of years or can they issue for years & months?
Overall I get the feeling the mortgage adviser is trying to screw us a little (As we have a great tracker rate I think they are trying to claw back some money)
the problem i have is that they want to only issue the mortgage for a round number of years (slightly less than the remaining term on my current mortgage). I want to have the mortgage match the Life Assurance policy we have so that we don't need to take out another one or reduce the time of the mortgage term (by 1 year).
Are banks only allowed to issue mortgages for a round number of years or can they issue for years & months?
Overall I get the feeling the mortgage adviser is trying to screw us a little (As we have a great tracker rate I think they are trying to claw back some money)