summersuzy
Well-known member
Yeah that does make sense thank you. She was calculating we could borrow less than we currently have and have been paying so I was totally confused how that works in a mortgage port. Essentially I want a smaller house price but wouldn’t reap the rewards of that until mortgage renewal time.Yeah it is exactly that. You need to reapply essentially. The mortgage is on your current home. You are just looking to take the product to the new home to avoid those early payment fees you have. So that's why I had to do a brand new application as it's a new home. But instead of picking a new product, I took the current one with me. If that makes sense? lol