Mortgage, what for best?

whippetboy

Mortage 93500k
House value 115-120k
22 years left

ok, this is my first remortgage i am currently with ge money on a fixed rate 5.89% intrest only deal (bad i know)

my current lender svr is 1.99% above base, so if i let this run that means i would pay £464 month but actually paying capital which is what i want, also looking at forcast it could stay low for a year or so?

Would i have to re apply for my mortgage with them?

And if the intrest rates went up how fast could i sort a mortgage out?

I am worried that i may not be able to get a mortgage because i applied for a 0% purchase card yesterday with my bank and they declined me! i have never missed a payment, i have had a loan for 5 years and never missed, my partner has ccjs who lives at same address. i have had a attachment of earnings for council tax(i pay over phone monthly and forgot to pay my fault i know, but this year is a new me!) I have sent off for my credit rating also but not had back yet.

I earn 25500k pa am 26year old, when i got my deal i was self employed, now i been employed since 2/08.

Thank you.

Wutang_2

Stick with the GE SVR and overpay

Cannon_Fodder

http://forums.moneysavingexpert.com/showthread.html?t=2183581&highlight=

whippetboy

Wutang wrote: »

Stick with the GE SVR and overpay

Ok thanks,

Will this cost me anything when the fixed rate ends?

Also just been reading about paying into an isa on just pay the intrest? not sure if this isworth it?

Wutang_2

Won't cost you anything and with your LTV its probably all that can happen anyway...You can overpay which will reuce the LTV and leave you in a better position later on.