My partner and I have three houses between us, we have two of them under the RBS one account with a total mortgage of 245000, the other is with northern rock on a good interest rate, but we only owe 54K on that, this has 170k worth of equity in it the others have around 70K.
We live in one of the properties that are linked to RBS and the other my mother lives in. The northern rock property we let out and get around a thousand a month rental.
RBS interest rate is 7.3 which is way over the odds. I can come out of that account without any penalty and try to get a better deal elsewhere but I've found that most lenders want to do surveys on all three properties to take them on, and three lots of fees!
Ideally I'd like all the mortgages under one roof at the best interest rate I can find at present. Looking around to borrow 300K which is roughly what we have to get in comparison we'd be looking at saving around £300 a month which is a lot of money.
Out homes are valued together at around 560K, our payments are around £2100 on a loan of 300K.
I'd like to go down the road of financial advice but hoped someone might take this on board here and offer any advice, my email address is xxxxxxxx ** Edited by VCM4 -- Please read the rules, email details are not permitted on the open forum.
Any advice is greatly accepted.
thank you