Remortgage Advice

jamielyn

Im not sure what to do, my mortgage 3 year term comes to an end in November. then it goes to a variable rate and obviously increases by around £20.00 a month, however its only an interest only mortage. My property has recently been valued at £100,000, my mortgage is £56,000 however i owe £9,000 via credit card. Should i remortgage and go for a repayment? Any advice would be most appreciated as i find it a bit of a minefield. Im a singleton earning approximately £18,000 a year, fortunate to be in a secure job. I am hoping to sell in the next couple of years so the early repayment penalty may come into effect, i dont know if i should stay as i am but i am concerned about the interest rate increasing.