High Loan To value remortgage advice

Peterward2008

Hi

We are currently have come to the end of a 3 year fixed rate with Northern Rock and are now on the SVR. We would be looking to remortgage but we are on a 100% mortgage product and consequently there are not many deals if any out there for us. We have a unblemished repayment history and no CCJs etc.

The LTV is high but the multiple of incomes for the mortgage is low and has in fact decreased since we took it out.

Whats the best way forward for us? Remain on SVR taking the risk that in the next couple of years interest rates can only go one way?

Are there any products at an acceptable interest rate out there for high to LTV remortgagers like ourselves?

Thanks

Peter

herbiesjp

If your income has increased (as income multiples have decreased) - have you been able to save any funds or make any overpayments into your mortgage?

The only way you will be able to get a re-mortgage deal will be by reducing the mortgage balance - 15% overpayment or more, needed to get any deals

_Andy_

You will be limited to your current lender until the LTV has significantly decreased.

FCRangers

What happens when you come to the end of a fixed rate mortgage. Do you just carry on with the payment if you don't want to change or are you forced to move/ change product lender?

_Andy_

FCRangers wrote: »

What happens when you come to the end of a fixed rate mortgage. Do you just carry on with the payment if you don't want to change or are you forced to move/ change product lender?

It will normally revert to the lender's standard variable rate (SVR) as detailed on the mortgage offer letter and KFI.