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eeek fixed rate ending, kensington want 9%. help!
thepinkladez_2
Posts: 950 Forumite
hi i am not very good with mortgages but i could do with some help!i have posted this on the mortgage thread too, but wasnt sure if anyone would be able to help here too, or if anyone is or has been in similar position?
Kensington have just informed us that our fix rate will now end at he end of Feb 09 instead of the end of june 09 like they have been saing for last 2 years!Apparently mortagage wasnt running inline or something!Problem is they have no fix rate offers and our mortgage will jump from £700 to over £900 per month!:eek:
Our mortgage is currently £111,000 and house price seems to be around £135,000 to £150,000 (thats what current similar houses are selling for in area!)
We do not have a great credit score as we are on a dmp, and dh has a co on the house for £12k.However we have never defaulted on mortgage.
Dh is also self employed but currently has no books in place yet til april so i assume would have to self cert?He has been offered a job but will only be getting about £1200/1400 PCM rather that the £1700-£2000pcm he gets now.
I earn £11,700 ish per year.My credit score is also getting better as most have been cleared by dmp.
What if any mortgages would we be able to have? would we be able to get something if dh goes employed rather than self employed?Or are we looking at selling? any help much appreciated!
Kensington have just informed us that our fix rate will now end at he end of Feb 09 instead of the end of june 09 like they have been saing for last 2 years!Apparently mortagage wasnt running inline or something!Problem is they have no fix rate offers and our mortgage will jump from £700 to over £900 per month!:eek:
Our mortgage is currently £111,000 and house price seems to be around £135,000 to £150,000 (thats what current similar houses are selling for in area!)
We do not have a great credit score as we are on a dmp, and dh has a co on the house for £12k.However we have never defaulted on mortgage.
Dh is also self employed but currently has no books in place yet til april so i assume would have to self cert?He has been offered a job but will only be getting about £1200/1400 PCM rather that the £1700-£2000pcm he gets now.
I earn £11,700 ish per year.My credit score is also getting better as most have been cleared by dmp.
What if any mortgages would we be able to have? would we be able to get something if dh goes employed rather than self employed?Or are we looking at selling? any help much appreciated!
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Comments
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To be honest Pink i think you will struggle to find another mortgage co to take you on. Certainly at a decent rate.
Even for those with spotless credit history it is becoming increasingly difficult to obtain a mortgage.
Your best bet would be to contact a whole of market mortgage adviser and see what they could possibly do for you.
Good LuckMF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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