Help

MichaelFFFF

Could someone answer this question in simple terms. I am not very financially aware.
1.
I have a Low Start Mortage which has been interest only for the first three years (this period ends in Late october this year)
2.
The repayments will jump from £177 to £770.
3.
I was made redundandant a year ago. These repayments will cripple me.
4.
The question - if i plead with my bank (first trust) are they likely to extend the interest only period for another 2 years or until i start find emploment?


Thank you

TEDDYRUKSPIN

Only the company of interest can answer you this! You must submit a kind letter to them. They will then ask your a financial budget, ingoings and outgoings (i.e. bank statements etc).

Now.... are'nt you on benefits?

MichaelFFFF

Thank you.
No I am not on benefits - i dont sign on as unemployed - (I have a fear of authority not joking)- would i get any help in any way?

Thanks - I appreciate your help

TEDDYRUKSPIN

No. You need to sign on! You can receive some mortgage assistance if you have savings under £6k and the mortgage is on interest only + JSA (i.e. not contributory).

Don't see why you don't do this. Fear or no fear, you have paid tax towards this! I see many people who have never worked in their lives and are happy to scam the country out of money for £1400 per month. They have babies like they are pigs. One after the other, in order to receive income support, child's benefit etc.

So why should the working class suffer?