We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Remortgage query
Legacy_user
Posts: 0 Newbie
We took our first mortgage in 1983 and every time we moved we still aimed for our mortgage to finish in 2008. This resulted in quite expensive endowments and ISA'S. Our current 2 year deal ends in June and I'm just looking for advice for the next 3 yrs. Our outstanding amount is £93,000, £83,000 interest only and £10,000 repayment. This repayment part was only taken when the present mortgage started as we could face a shortfall from our endowments. My question is this, with only 3 yrs left should we continue with the part interest part repayment option or go back to interest only and put more money into ISA's. I'm having difficulty getting quotes online for this type of mortgage.
0
Comments
-
Try the Jon Charcol website, you can search for mortgages with the amount you want to split between capital and interest and interest only.
Good LuckNice to save.0 -
A lot of lenders have a minimum term of five years - which when quoting would be ok for the interest only portion but may distort the repayment part of the loan.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards