Santander

Poodle34

Just wondering if any of you would know, we have a fixed rate tracker mortgage due to finish in May. We are currently only paying the £492 a month due to the low rates of mortgage.

Have been told when it goes to SVR it will go up to £654 and to fix it will be even dearer at £677.

We are going to struggle to find this extra money. We can't shop around and go elsewhere due to bad credit record. Will we be able to go on interest only for a year as after April we will be £300 a month better off so will be able to afford it then?

Thanks,

JA1000

Phone and ask them

Peelerfart

I assume when you say "fixed rate tracker mortgage ",
that you mean a fixed amount above BofE lending rate?

If you are saying that you can only pay the mortgage when it's at 0.5% you are going to struggle as,I think I'm on safe ground predicting,that the rate will go up.

Speak to your lender ASAP .

PF

_Andy_

As stated above you need to ring and ask them, it will depend on your circumstances including LTV