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remortage quandry
emad_3
Posts: 8
Forumite
My partner was made redundant 12months ago. Repayment insurance has paid for that year.
It is now finished and our mortgage has reverted to SVR with Santander.
I am working full time and am able to pay the mortgage, but our other outgoings (none of which are debts, just living costs) exceed our income by about £300 pcm.
We have a mortgage of about 250,000 on property worth about 310,000.
Would Santander consider allowing us to go interest only for a few months - this would then mean that we would have some breathing space and could afford all monthly outgoings?
Are interest only remortgages a thing of the past???
Thank you.:j
It is now finished and our mortgage has reverted to SVR with Santander.
I am working full time and am able to pay the mortgage, but our other outgoings (none of which are debts, just living costs) exceed our income by about £300 pcm.
We have a mortgage of about 250,000 on property worth about 310,000.
Would Santander consider allowing us to go interest only for a few months - this would then mean that we would have some breathing space and could afford all monthly outgoings?
Are interest only remortgages a thing of the past???
Thank you.:j
0
Comments
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only santander can answer that.......no they're not a "thing of the past"....however lenders now take a different view due to directives from the FSA........Contact them and give the info you have given on here....explain yr situation with partner etc, I imagine you will have to be quite strong and just don't accept the first NO.....0
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