Whats the best thing to do ???????

spooky25

HI all

I'm going to be in a sticky situation in just over years time when my mortgage rate will rise after my three year fixed rate ends.

I was one of the lucky last few who got a 100% interest only mortgage and I'm now starting to get the jitters as most mortgage products are only giving the maximum of 90% at present.

Is there anyway I can re-mortgage to get a better rate without eating into my precious over payment vehicle? as I don't think I will be able to stump up the deposit amounts that the mortgage company's are asking for.

I would be grateful for any wise thoughts from you good people out there.

Many Thanks

Spooky25

beecher

No, you won't be able to remortgage anywhere else at the moment as you'll be in negative equity by now I'd guess.You will just have to wait and see if your lender will offer you a deal when your fixed rate comes to an end. Otherwise you'll be on the SVR which may or may not be lower than your present rate. Add to your overpayment stash as much as possible by cutting back on other expenditure in the meantime.

spooky25

many thanks beecher for your post

I really hope the rate will be lower when it comes round

thanks spooky25