Moving house when already in a mortgage deal

[gracielooloo]

We are hoping to move house, we are a year into a 3 year fixed rate deal. We will need to borrow a bit more (moving to a more expensive area) but that shouldn't be a problem.
Can anyone tell me how it works?
Can we stay in our deal but with a bigger loan, switch to a different lender or keep our exsisting mortgage and borrow from elsewhere, effectively having two mortgages?

It depends on your lender and the T & Cs of your current mortgage. Most lenders will allow you to port your current mortgage to a new property subject to satisfactory valuation. If you wish to do additional borrowing then you would normally choose a product from the lender's current range so you will have two separate parts to your mortgage. Your application will of course be assessed for affordability and credit
worthiness. HTH.

Forgot to say that you can of course switch to a different lender but you may have early redemption charges to pay. You can't borrow the additional funds from a different lender on the same property.

I'm with HSBC and they should let you do this, as long as you stay with them (obviously).

How it works for me is I currently have roughly £100k outstanding on my existing mortgage. I want to borrow £240k total so I am going to have two mortgages with them running side by side

1. £100k at the fixed rate I have on the current mortgage
2. £140k at the (higher) fixed rate they're offering now

They made me take out the second part for the same length as the first part, so they'll end at the same time. But it's been fairly straightforward.

AFAIK you can't split the two parts between lenders, though. But you could use this sort of arrangement as an interim for the next two years then shift the lot.