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Interest only for a few months???
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tugrin
Posts: 466 Forumite
Hi everyone - this is a new board for me!
I have had the offer of a few months of interest only on my mortgage and because of the tightness of my budget with CCCS I am wondering if this might be worth it in the event of my 15 year old car not making it through the MOT and needing hundreds and hundres of pounds work?
I still have £94000 to pay and 12 years plus retirement lump sum to pay it in. Is this just an absolutely CRAZY idea! The bottom line is I MUST have a car for work (34 miles away), and NOT having one would mean loss of job, house etc
I have had the offer of a few months of interest only on my mortgage and because of the tightness of my budget with CCCS I am wondering if this might be worth it in the event of my 15 year old car not making it through the MOT and needing hundreds and hundres of pounds work?
I still have £94000 to pay and 12 years plus retirement lump sum to pay it in. Is this just an absolutely CRAZY idea! The bottom line is I MUST have a car for work (34 miles away), and NOT having one would mean loss of job, house etc
debt free 2021 at current DMP rate[/COLOR] (probably be in an old peoples home by then)
0
Comments
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Can you overpay, and if so, how much?
You could always overpay a decent amount after your 'few months'.Said Aristippus, “If you would learn to be subservient to the king you would not have to live on lentils.”
Said Diogenes, “Learn to live on lentils and you will not have to be subservient to the king.”[FONT=Verdana, Arial, Helvetica][/FONT]0
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