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Insolvent and need Mortgage

pool-hustler
pool-hustler Posts: 181 Forumite
in Mortgages & endowments
Mortgage express will not be offering me a new deal this summer.
I'm currently on 1.94%
The problem is i'm insolvent and will need to move mortgage. I'm afraid no-one will provide me with one, if they do it will be expensive.
Will they know if I don't declare it? :(
what rate will I default to? Will it be a standard variable. Any ideas what it is?

Comments

  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you have a mortgage with Mortgage Express then they cant cancel the mortgage as long as you pay the monthly amount !
    Read the paperwork that came with your mortgage offer to find out what your mortgage reverts to at the end of the current deal.
    Does it say the mortgage reverts to the SVR ?
    Check with mortgage express what there SVR is now !
  • pool-hustler
    pool-hustler Posts: 181 Forumite
    they just said that the rate ends in 2013 but may be a mistake. Can't find paperwork. Here's hoping!!
    the SVR at the moment is 4.84. Is that high compared to others?
  • ILW
    ILW Posts: 18,333 Forumite
    Nobody knows what rates will be in 3 years time. I would stop worrying and just enjoy the very low rate you are on.
  • pool-hustler
    pool-hustler Posts: 181 Forumite
    i just hope it is 2013.
    nowing my luck it won't be. What is the average SVR?
  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    The 'norm' is probably around 7% or so though they are lower at the moment because of the low base rates. Who knows where they will be in 2013.
  • pool-hustler
    pool-hustler Posts: 181 Forumite
    whats the norm at the moment?
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    pool-hustler wrote: »
    whats the norm at the moment?

    Facebook, Twitter, Hollyoaks, Iphones, N-Dubz but in 3 years this will all change.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    If you are insolvent how are you paying for the mortgage now?
  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    pool-hustler wrote: »
    whats the norm at the moment?

    I don't know 3 point something or 4 point something? Does it matter?
  • pool-hustler
    pool-hustler Posts: 181 Forumite
    getmore4less wrote: »
    If you are insolvent how are you paying for the mortgage now?
    had the mtg before i was made insolvent
This discussion has been closed.
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