UB mortgage top up

[Nalex17]

Hi there

we have mortgage with Ulster bank (3 years into 7yr fixed rate).

Hoping to apply for top up of ~30k in next 6months for home improvement.

With UB winding down will there be any issue with top up? Or would I be better off breaking out of fixed rate and switching banks?

Cheers

 

[Brendan Burgess]

1) What rate are you paying?
2) What is the break fee?
3) Have you been approved for a top-up?

4) What will your LTV be after you take out the top up?

Brendan

 

[Nalex17]

Hi Brendan, thanks for getting back to me.

Currently on 2.99%
Unsure of break fee (was told I won't need to break if I proceed with mortgage top up as it'll run alongside mortgage for same term)
Approved in principle , need to formally apply when planning permission is obtained

current LTV 35% top up will bring it to approx 44%

Cheers

 

[Nalex17]

Shameless bump!! Planning permission in progress and hoping there's no surprises when we apply for top up! Guy from UB couldn't really tell me anything!

 

[Roshan12]

Hoping to apply for top up of ~30k in next 6months for home improvement.

With UB winding down will there be any issue with top up? Or would I be better off breaking out of fixed rate and switching banks?

 

[HollowKnight]

Hoping to apply for top up of ~30k in next 6months for home improvement.

With UB winding down will there be any issue with top up? Or would I be better off breaking out of fixed rate and switching banks?

As of now, there shouldn't be an issue. But 6 months might change things.