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mortgage help please!

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sorted85
sorted85 Posts: 3 Newbie
in Mortgages & endowments
hi,

Any advice on this problem would be a great help..

Ive recently finished my 2 yr fixed rate, since then i have been on a 4.99% variable rate. I was looking at getting another fixed rate but no bank will offer me one. The reason being that i bought my place for 113,000 but it is now worth a bit less, say 105,000. I owe 104,000 on the mortgage and this is deemed to high. Is there any way of gettting myself a better deal than the 4.99% i find myself currently on?

much appreciated..

Comments

  • VIGILANT22
    VIGILANT22 Posts: 2,516 Forumite
    Valuation 105k
    Mortgage 104k
    LTV 99.04%
    For you to access a new deal you would require a 100% mortgage of which none are available.
    You are faced with a "challenge" to reduce the outstanding amount of 104k before accessing a new deal.
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