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Switch to Interest only? Advise needed
nufc_fan
Posts: 111 Forumite
Hi
I bought a property with partner 2 years ago, unfortunately things didn't work out and now the property is just in may name.
i owe about £93k on a 5.9% 3 year fix 25 year mortgage with bradford bingley (now ME) paying around £630 per month.
I haven't contacted them yet but i have been thinking about asking to change to an interest only mortgage for 6 months or so to help me sort finances out etc. Anyone know if this will be possible? How much per month would i be able to save?
I bought a property with partner 2 years ago, unfortunately things didn't work out and now the property is just in may name.
i owe about £93k on a 5.9% 3 year fix 25 year mortgage with bradford bingley (now ME) paying around £630 per month.
I haven't contacted them yet but i have been thinking about asking to change to an interest only mortgage for 6 months or so to help me sort finances out etc. Anyone know if this will be possible? How much per month would i be able to save?
0
Comments
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You would save about £150 per month.
Not sure if it is possible, it would depend on the equity I think.0
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