refinance with half split and half variable

Are you looking to refinance it or just get additional funds out? If the latter then the existing doesnt matter as you can do it as an addition split on top.

If its to refinance it then yea there'll be penalties to pay, albeit smaller if less of the loan is fixed. Whether its worth it or not will depend on WHY
 
Strictly speaking the word 'refinance' means moving to another lender and it's no possible to do this with a fixed loan unless you're willing to pay the penalties associated with breaking the fixed loan contract.

The variable loan is quite flexible, you can 'top up' or 'restructure' this loan with the existing to access your equity quite easily.

It actually is possible to get a second mortgage over your own property with another lender and keep the fixed loan with the first lender. Practically this tends to be expensive, a hassle and neither lender likes it. It's much easier to keep it with the original lender in this situation.
 
Strictly speaking the word 'refinance' means moving to another lender and it's no possible to do this with a fixed loan unless you're willing to pay the penalties associated with breaking the fixed loan contract.

That was the intent for my question. Thanks PT
 
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