Manchester Mortgages were contacted by one of our existing clients in Chorlton as they had sold their exiting property and were looking to buy a bigger property.
One of the clients was a self employed electrician and his wife was a teacher on maternity leave after giving birth to their first child.
They had existing credit commitments which they were looking to pay off with the sales proceeds of their existing property which would reduce their monthly outgoings but also needed to increase their mortgage to enable them to purchase their new family home.
As they were in the middle of a fixed rate with their existing lender Halifax they would have a large penalty if they paid their mortgage off and move to a new lender. The wife was on maternity leave and only receiving Statutory Maternity pay but would be returning to work on her full salary in a few months time.
Manchester Mortgages were able to transfer their existing mortgage with the Halifax to the new property and also arrange for the required additional borrowing being added to their existing mortgage.
As they were increasing their mortgage their mortgage term was able to be extended so that their mortgage payments were within their monthly budget.
CONCLUSION
Our clients are now looking forward to moving into their new family home with the knowledge that both parts of the mortgage are secured on a fixed rate so giving them the peace of mind they will know what their mortgage payments will be.
If you are in the middle of a fixed rate and are considering moving home, ring MANCHESTER MORTGAGES on 0161 706 0242 or complete and send our contact form so we can discuss what options are available to you.
