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Fixed Rate Ending - Help/Advice Please

beccabooboo · 2009-08-02 15:14:12

Hi All, i wonder if I could get some advice please? Here is a summary of our situ; Currently in a DMP with CCCS paying around £25K debt Have a Charging Order from Northern Rock for £21K Mortgage with Platform for £81K on interest only at present I am working full time earning £26K Hubby made redundant in April, started own…

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ANY_CHANCE Posts: 825 Forumite

3 August 2009 at 7:36PM edited 3 August 2009 at 7:38PM

I am hoping you will find on checking, that your rate may well be linked to LIBOR or Base rate in which case your payments may be lower depending on the fixed rate you have now.

for example my mortgage was 6.79% and in October will be 2.8 plus LIBOR so a big saving per month. I will use this to pay off debts for as long as i can.

LIBOR updates on this thread http://forums.moneysavingexpert.com/showthread.html?p=23888125#post23888125

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Fixed Rate Ending - Help/Advice Please

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