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Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4546
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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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.
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.

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Warm Regards