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Northern Rock fixed BTL mortgage ends Nov 1st 08 - What to do next??
danol21
Posts: 12 Forumite
Hi all,
my Northern Rock fixed BTL mortgage ends Nov 1st 2008. NR have written to me stating that my payments will go up to £700+ pm (currently im paying £569 pm).
My apartment is worth approx £120,000.
The remaining mortgage is just under £90,000
The tennant currently pays £500 pm (which is less than the current £569 monthly mortgage payment)
So what do i do now?
Is an independant mortgage advisor the way to go?
Will i get an ok deal remortgaging my btl property?
Who are offering the best rates for me?
Any advice would be really helpful.
Thanks in advance
Dan
my Northern Rock fixed BTL mortgage ends Nov 1st 2008. NR have written to me stating that my payments will go up to £700+ pm (currently im paying £569 pm).
My apartment is worth approx £120,000.
The remaining mortgage is just under £90,000
The tennant currently pays £500 pm (which is less than the current £569 monthly mortgage payment)
So what do i do now?
Is an independant mortgage advisor the way to go?
Will i get an ok deal remortgaging my btl property?
Who are offering the best rates for me?
Any advice would be really helpful.
Thanks in advance
Dan
0
Comments
-
I would contact a whole of market mortgage broker to start looking. The rates are starting from about 6% plus arrangement feesI am a Whole of Market Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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