Remortgage Help

evnsj6

Hiya,

We are just coming to the end of out 2 year fixed rate mortgage with GMAC RFC.
It was an Interest Only Mortgage.

GMAC advise they cannot advise me as to how much my new payments will be in May, which I understand.

What I need to find out is I am shopping around for a Remortgage, I did have bad credit in the past and think this may be off my file now.
We want to go for a Repayment mortgage on the house, but we may have negative equity on the prmises and may end up staying with GMAC at a High Rate? Or the Rate LIBOR is at in May, at the moment its approx 6.34%

Any ideas as to what I can do. Or Information to help?

I am waiting for L+C to get back to me but I was passed onto their specialist department to deal, due to me adising did have bad credit in the past, will I get a fair deal or will I end up paying a really high rate again?

Thanks:rolleyes:

_Andy_

If you are in negative equity or anywhere over 90% you're going to be stuck with your current lender.

evnsj6

How can I get my house valued? To find out for definate if I am in Negative equity!!!

_Andy_

You could get an estate agent around but they'll undoubtedly over value it.
If you bought it two years ago it will definetely be worth less now.
Have a look on rightmove.co.uk or similar to get an idea of current market values