Sorry I don't think I'm going to explain this very well but we're planning on moving next year to a larger house and would need to increase the mortgage to do this.
Our current fixed rate mortgage has finished, would there be any benefit to increasing our mortgage (or is it even possible?) to enable us to move next year by 'just' porting our mortgage - this is so we can fix the interest rate before they might rise?
If this is possible I understand the downsides would be the danger of not moving so essentially we'd just have an expensive loan/When moving we'd still have to be reassessed for the mortgage when porting (but I believe we'd still be entitled to the same interest rate if accepted) also the bank would have to accept the new house is ok to cover the loan.
So, if you can make any sense of that, is it possible? And are there any other problems with this we should be considering? TIA