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Interest only re-mortgage through a Guarantor
Eliyon
Posts: 9 Forumite
Hi
I was wondering how anyone who was in a similar position had found the re-mortage experience, namely been out of the fixed 2 year period for about a year, on the SVR which is good for now, but when I took out a mortgage it was 90% Guarantor Interest-only. Has anyone in this position tried re-mortgaging recently and how what requirements did they face? ie higher deposit needed, high rate?
I was wondering how anyone who was in a similar position had found the re-mortage experience, namely been out of the fixed 2 year period for about a year, on the SVR which is good for now, but when I took out a mortgage it was 90% Guarantor Interest-only. Has anyone in this position tried re-mortgaging recently and how what requirements did they face? ie higher deposit needed, high rate?
0
Comments
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Depends on your current loan to value.
You should not have much of a problem its more 1st time borrowers that have the issue.0 -
How much do you owe?
How much is the property currently worth?
Is the guarantor still liable for the mortgage?
Are you still on interest only (if so why?)?0 -
90% interest only with no repayment vehicle would mean you won't be able to change lender.0
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