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Mortgage advice please

eldurrando
eldurrando Posts: 18 Forumite
in Mortgages & endowments
Hi,im almost coming to the end of a two year interest only mortgage(several circumstances at the time led to this)with RBS.I would like to switch to normal repayments asap and im hoping the payments wont be too much more than what im paying or even better less! I got the mortgage in august 2008 and i think the rate was 7.2%.
Any advise on what to do next is very welcome,costs ect?:)

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    ring RBS and ask to convert to repayment, they will let you know the payments.
  • eldurrando
    eldurrando Posts: 18 Forumite
    _Andy_ wrote: »
    ring RBS and ask to convert to repayment, they will let you know the payments.
    Just rang,as im on a two year fixed deal they want another £200 quid a month.However when the deal runs out just after summer,going on the current 4% rate with RBS then i will be paying £7 more going from interest to capital payments.Do i stick with RBS or look elsewhere with a broker?
  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    Depends on your LTV and credit file really, and your attitude to risk. What's the value of the house, and how much is the mortgage?
  • eldurrando
    eldurrando Posts: 18 Forumite
    beecher2 wrote: »
    Depends on your LTV and credit file really, and your attitude to risk. What's the value of the house, and how much is the mortgage?
    The value is 120,000 the mortgage is 103,000.
  • eldurrando
    eldurrando Posts: 18 Forumite
    anybody with anymore advise please?
This discussion has been closed.
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