End of fixed rate Standard Life Mortgage - Could somebody advise?

leicsmark

Hi, Thank you for reading this. I wanted to check with some people on here whether I am doing the right thing or have missed something obvious. I am fairly sure I have no other option. I will summarise the situation.

Bought a house July 2007 - £179995.
Current outstanding mortgage £162000
Standard Life fixed rate 6.05% dropping to SVR of 5.34% (!) on 19th July 2009.

Standard Life have declined to offer a remortgage rate. Apparently this is true of ALL customers, and they do not look at LTV. They are clearly trying to run down their mortgage book.

I am overpaying by £200 per month. Monthy repayment is £1100 (dropping to £1025) and so is £1300 with overpayment (dropping to £1230).

Combined family income of £66000, (it was £38000 when we took out the mortgage, yet now we can't get one!)

All I can think of doing is overpaying as much as possible, increasing it to £500 for the forseeable future. I am at a loss as to what other options I may have. House prices seem relatively stable in Whitstable, looking at sold prices. It is a 2 bed semi detached.

Thank you for any advice.