I recently reserved a new 5yr fixed (4.39% with 1K product fee) mortgage deal to begin in June, with Nationwide.
Since then, i have applied for additional borrowing and have been accepted.
Now, 5yr fixed rates have reduced- 4.24% (£1K product fee) or 4.34% (no product fee).
My question is, if i were to cancel the reserved deal and reapply for the new rate, could i ‘freeze’ my additional borrowing application so that i don’t need to cancel that/reapply - and then confirm/proceed once the new deal is in place?
Purely from a loan-to-value point of view, it makes sense that the additional borrowing is separate as increases the LTV and as such, rates are higher - i would rather pay this on just the additional borrowing vs the full mortgage amount, as the new rate and additional borrowing combined would mean i pay higher rates on a larger amount.