Remortgage due

FirstTimer4Me

I’m hoping someone could give some advice as we’re hopeless with this sort issue, but need to budget for any potential increase.

Our current fixed rate deal is due to come to an end shortly, we have bad credit rating due to being on a DMP, and just recently, Northern Rock has been awarded a charging order.

Our current deal is with Nat West I think our current rate is somewhere around 5.25% = £525.00pm, our O/S mortgage is £70.000; current value is around £100K.

We intend to stay with Nat West as they've informed us they don't do credit checks as we're existing customers.

All these deals that charge fees confuses me, however, we don't really have any money available to pay any fees with a new deal.

We are thinking of taking a 5 year deal, anyone have an idea what kind of increase on our current payments are we looking at?

Sorry for the long post, but hoping someone can assist, you can see by the time of this posting, I'm starting to worry in case we lose our home because no one will offer us a remortgage.

_Andy_

Basically you want to know what the payment will be on a 5 year deal. You need to ask your provider for an illustration.

Your other concern is with the fees, these can normally be added to the mortgage.

betmunch

Just nip in to your local branch and ask them for the best fixed rate for your situation.

Simpuls