Worrier in Advance!!!

susieh_2

Hello All,

Any answers, advice on the following greatfully received.

We currently have a fixed mortgage with Chelsea. It was for 2 years & is due to end in April 2010, the rate is 6.39%:eek: . Our LTV is currently approx 80%, now I have recently been on their Website and see that their max LTV is roughly between 60 - 70%.

What happens when it comes to remortgage time and we dont meet the lending criteria on LTV ratios.

I realise that other lenders LTV rates are different but am worried about shopping around as we still have a discharged B/R on our credit files which is due to "fall off" in June 2010, 2 months after the mortgage deal comes to an end.

I know alot of things can & will probably change in the next 12 month, but as my title says I am a worrier.

Thanks for taking time to read and in advance for any replies.


Cheers susieh

Robert_Sterling_3

Will worrying about it help?

beecher

Overpay as much as you can til next year and then see what's available. Nothing you can do til then. If you can't remortgage elsewhere, you'll go onto the SVR with Chelsea. They may offer you a deal, but no-one can possibly tell at the moment.

Hopefully overpaying will make you feel more in control and you can stop worrying.

maninthestreet

CBS's current SVR is 5.79%, so if nothing changes from now until April 2010, you will see a reduction in your monthly mortgage payment.