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Am I stuck with NRAMs SVR?
PoppyHoppy
Posts: 253 Forumite
Hi there,
Bought flat in Dec 2006. Paid £101,000, with £5k deposit. Interest rate of 5.84 fixed for 5 yrs
Struggled with debt and defaulted. Resulting in poor credit rating at present and for the foreseeable.
Went on interest only for the last year and used this time to repay debts.
Mortgage stands at £91,000. Flats in my development are currently selling at 100k or just below.
Although the SVR is better than my old rate, I'm still a little gutted to be paying 4.79%.
I know I'm not in an ideal situation due to defaults and limited LTV. Just thought I'd cast the net out and see if there's any options I'd not considered.
Thanks in advance
Bought flat in Dec 2006. Paid £101,000, with £5k deposit. Interest rate of 5.84 fixed for 5 yrs
Struggled with debt and defaulted. Resulting in poor credit rating at present and for the foreseeable.
Went on interest only for the last year and used this time to repay debts.
Mortgage stands at £91,000. Flats in my development are currently selling at 100k or just below.
Although the SVR is better than my old rate, I'm still a little gutted to be paying 4.79%.
I know I'm not in an ideal situation due to defaults and limited LTV. Just thought I'd cast the net out and see if there's any options I'd not considered.
Thanks in advance
Determined to be a thrifty Mama!
0
Comments
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With no additional funds to increase your equity in the property I can't see any options for you in the short-term. Sorry.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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