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Comments
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you have nearly 50% equity well at least 60% LTV... depending on valuations... so many options open to you!
a 12 month rate with Woolwich will see a rate of 1.99%... depends if you qualify for affordability...Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
It doesn't solve the long term situation though.a 12 month rate with Woolwich will see a rate of 1.99%... depends if you qualify for affordability...
The OP cannot afford this mortgage in full and will, at some stage, have to sell up and move downmarket in value or rent.
OP - there's not a specific rush forcing you to do this, but sooner or later it is inevitable unless there is a material change to your circumstances.
Good luck.0
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