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We did that with Nationwide on a previous policy and they set it up as a separate but parallel policy, so the term and the interest rate periods were the same (as were the billing dates), but it had a separate ERC amount.
It's been annoying in some ways (we ended up with three mortgages on one property from the same lender) but it avoided the issue you're describing. Perhaps float the possibility of a separate product tacked on - it's clearly possible in theory if Nationwide can do it - but they seem to be the whole ones who regularly do.
tbc-
That's the odd thing, she was saying it would be a separate product, with it's own payments, but that if we moved the main mortgage to another provider it would trigger the ERC. I'm going to call them back and check they had that right as why would we pay an early repayment charge on the 20k unless we were... repaying (remortgaging) which obviously I don't want to have to do 9 months in to the loan
Polygon
Thinking about borrowing some money to build a garden office and sort out the garden in general which would mean not moving or loft conversion, both a plus to me and seems the most cost effective way to make the house work for us.
Anyway, current lender seems willing to lend us more but dropped in to convo that if we take out an additional loan with them, say, in the next few months, that when we renew the main mortgage in Feb '24 we'd be liable to early repayment charges on the additional lending (eh?) I guess one can't exist without the other.
So assuming we can wait until remortgage time to do the work, do I just go to market asking for X for [old lender] and send 20k extra to me please?
I know tbc asked similar recently but still feel like I don't really understand how the process works.
Also are there any other financing options (short of selling myself/drugs/stolen property) I should be looking at?