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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
remortgage or not?-low ltv
pajerochick
Posts: 19 Forumite
hi,
a little query... i am in a fortunate position ( and am very grateful) of having a low remainder left on my mortgage.....circa £26,900.
I last remortgaged in 2008; before the bottom fell out...I was travelling, so had to stay with the previous provider
for ease of remortgaging from afar...the rate was 2 yr fixed at 5.89% til Oct 2010.(over 18 yrs)(yes, from afar i had watched rates drop in the uk from then on :cool:)
When I last remortgaged in Oct 2008 the property was valued at c£98k.
I do not know current value, assuming it may have lost something ...
Have found out the lender's current svr is 4%( obviously that may change between now & this Oct when fix runs out...)
My dilemma is ;
can i actually get a mortgage for such a low remainder to pay? many seem to be above £30k minimum....?
and knowing the LTV is so good, does that give me any 'clout' as it were?
as background - i would then be weighing up whether i should try to overpay/clear mortgage from then (currently not an option as no savings yet; just properly back in uk workforce & determined to be thrifty though!)
i'd appreciate any advice or pointers...
a little query... i am in a fortunate position ( and am very grateful) of having a low remainder left on my mortgage.....circa £26,900.
I last remortgaged in 2008; before the bottom fell out...I was travelling, so had to stay with the previous provider
for ease of remortgaging from afar...the rate was 2 yr fixed at 5.89% til Oct 2010.(over 18 yrs)(yes, from afar i had watched rates drop in the uk from then on :cool:)When I last remortgaged in Oct 2008 the property was valued at c£98k.
I do not know current value, assuming it may have lost something ...
Have found out the lender's current svr is 4%( obviously that may change between now & this Oct when fix runs out...)
My dilemma is ;
can i actually get a mortgage for such a low remainder to pay? many seem to be above £30k minimum....?
and knowing the LTV is so good, does that give me any 'clout' as it were?
as background - i would then be weighing up whether i should try to overpay/clear mortgage from then (currently not an option as no savings yet; just properly back in uk workforce & determined to be thrifty though!)
i'd appreciate any advice or pointers...
0
Comments
-
Size of loan should not be a problem FD go down to £10k
http://www1.firstdirect.com/1/2/mortgages/repayment-mortgage-rates;0 -
oooo.i had not spotted that one.thanks very much
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.3K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards