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!

thicko needs advice

My mortgage is about to finish we owe £38000 and are currently overpaying by £350 a month,the rate is 2.99 RBOS rate about to rise to 4.29.I have no idea which direction to take has anyone got any advice as what i should do next,thanks in advance.

Comments

  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Your options are:

    1) Do nothing and accept the rate RBS are moving you on to.

    2) Ask RBS for alternatives (they may or may not have other deals).

    3) Remortgage to a new lender, assuming there is equity in the property (see a broker or approach another lender directly).

    I'd suggest option 3.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.1K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.