Can building society refuse to switch mortgage to interest only

samuel.s

Thrugelmir wrote: »

Then the Debt-Free Wannabe board may be a good place to start.
Rather than look for an easy option. Tackle your credit issues head-on. Good luck.

Thanks i have posted on the DFW board as well regarding my situation. I am thinking of ways to tackle my debt and thought this was maybe a way of reducing debt with a larger APR.

It may all be a worthless exercise if i do not find employment by end of March, but just could not sit around anymore before things got out of control.

I do not get much time from my present employment to sort these kind of issues out so am taking full advantage of my few days off i have.

KarenBB

Have you thought of having part of the mortgage on interest only, as you've endowments policies that would cover part of the mortgage I can't see that the building society should have a problem with the amount you have endowments for being on interest only with the rest on capital and repayment. It doesn't have to be all one or the other it could be part and part, that would free up some to pay off the credit card debt.