How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Rakhi Vasavada Your Own Question
Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4545
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
43581946
Type Your Finance Question Here...
Rakhi Vasavada is online now

My wife and I currently have ajoint mortgage with Nationwide

Customer Question

My wife and I currently have ajoint mortgage with Nationwide on my family home. My family still live there but as we are now separated, I bought a flat four years ago and have a separate mortgage with Woolwich.
The house is worth c£400k and the flat c£160. The remaining mortgages are c£72k and c£76k respectively.
I would like to ask Nationwide if they wouold give me an advance on my mortgage with them of c£76k to pay off the flat mortgage (there are no redemption fees). I know from experience that they will lend more funds to pay for things like home improvements etc but not sure if they would do this for another property.
I could of course simply transfer my Woolwich mortgage to Nationwide but would prefer to have it all as one mortgage against the house with nothing left to pay on the flat.
My wife is in agreement with these changes.
Steve
Submitted: 3 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 3 years ago.
Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

I think Nationwide will do it. From what I understand from your situation, you can try and transfer your existing woolwich mortgage to Nationwide and pay off your flat.

If you are current on all of your existing mortgages, I do not see this very difficult as such. At least this idea is certainly worth giving it a try.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards