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securing my mortgage
2007montane
Posts: 3 Newbie
have a toxic mortgage with northern rock. fixed rate term has ended and cant get another one. the banks we try say we dont qualify. also in acccs plan on credit cards. when the interest rates do finally go up i think we'll lose the house because of the payment hikes. where can i go to get a mortgage that will protect me from a rise i just cant afford.
0
Comments
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You can't.
a) What's your mortgage worth?
b) What's your house worth accurately?
c) What are your CC debts currently?
d) How did you plan to pay your mortgage off when you took your mortgage out?
Sorry to be blunt but it looks like (from what you've said) there's not a lot of scope. You need a good LTV (loan to value) to get a decent mortgage and very few banks (if any) are offering remortgages at 95% higher
Sorry to be so blunt.Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370
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