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Struggling .
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Hie Mistery
I am the same position as you an Interest Only Mortgage with Preferred balance £85000 and 2nd charge with Welcome £15000. So Iunderstand exactly what you mean. We are reluctant to go down the BR route coz these are our only debts. We are managing now but are seriously concerned about what will happen if interest rates start goin gup. And also we do not have any savings as we were expecting to Remortgag a Repayment after the initial deal, unfortunately when the time came the lender was no longer lending. So as we have no equity no other lender will touch us.
Ican understand your plight and wish you luck in whatever you decide to do. Please could you keep us posted and ket us know how it all goes.0
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