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Best fixed rate interest only
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CatBaloo_2
Posts: 2 Newbie
Hello All
Need advice on mortgage -
here's the scenario
Own my property valued at £285000 - NO mortgage
Need to borrow £40000 for home extension
Age 57
Retired with Company pension and Part time job
No dependents
State pension kicks in in 3 years (extra income)
Need a fixed rate to take me to pension age at lowest monthly repayments possible
INTEREST ONLY,
So far, the best my broker can come up with is Abbey , fixed at 5 years at 4.94%,
monthly repayments of £168.76
I really need to get that monthly figure down further if at all possible.
Need advice on mortgage -
here's the scenario
Own my property valued at £285000 - NO mortgage
Need to borrow £40000 for home extension
Age 57
Retired with Company pension and Part time job
No dependents
State pension kicks in in 3 years (extra income)
Need a fixed rate to take me to pension age at lowest monthly repayments possible
INTEREST ONLY,
So far, the best my broker can come up with is Abbey , fixed at 5 years at 4.94%,
monthly repayments of £168.76
I really need to get that monthly figure down further if at all possible.
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