If you have ever had to take out a second mortgage (for instance in the case of consolidation, or because you didn't qualify for a high-ratio mortgage) there usually comes a time when you are ready to combine them into a single, low-cost mortgage. There are two different possible situations:
 

Combining Mortgages

Where the resulting mortgage can be either "high ratio" or "conventional".

Breaking a Closed Mortgage to Transfer to a New Lender

Often a "closed" mortgage actually has a penalty built in which allows you to pay the price and terminate the mortgage, leaving you free to move your business elsewhere.