Remortgaging - I want to borrow more can I say it's to consolidate.

[glassofwine]

Our fixed term mortgage is up for renewal and we would like to increase the borrowing on it to incorporate a bank loan, as it would be cheaper (in the short term). When I ring them to ask can I say that or should I say it's for a new kitchen or similar?

Don't ring your lender direct, phone around estate agents and ask if they have an Independent financial advisor, many do (eg Enfields in the South). S/he will be able to safely answer unofficial questions like this and shop around for you and get a better deal because he puts more mortgage business through than other IFAs (or indeed yourself LOL.) You may have to pretend to the estate agent that you can't decide between moving or remortgaging just to get through to the IFA though but everyone hates estate agents don't they?

Most of the time you don't need to say what the money is for