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Mortgage Question
BUYITASITSGOOD
Posts: 39 Forumite
I currently have a part interest only part repayment mortgage because I had an endowment. The endowment has now been surrendered, can I simply contact the Nationwide and ask them to change the whole mortgage to repayment?? Currently on a 3 year fixed rate. 
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Comments
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You might be able to.
However you might have to have two separate mortgages with the same lender.
First the 3 year fixed rate will be continued unaltered.
Second the interest only part will be changed to a mortgage chosen by you
This could be fixed rate, tracker rate etc................................I have put my clock back....... Kcolc ym0 -
We had a interest only mortgage with Nationwide and swapped it to a repayment mortgage. We phoned and had to put the request in writing.
We were on a fixed rate mortgage at the time and they did it without any penalties or fees.0 -
It seems most unlikely to me that any lender would take the approach Robert suggests. It's just a change of repayment basis - and most lenders will just change the repayment basis, without any impact on the product terms.0
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