We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards