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!
Mortgage advice needed
heartlands99
Posts: 1 Newbie
I am tied into a fixed rate mortgage until Sept 2012, the mortgage is interest only. The house was bought for £162,000 in 2007 and the payments are £752.45 per month. My mortgage is for £145950. I put a deposit down of £17,000. The houses have depreciated in value. To get out of the fixed rate I would have to pay £7,000. Is there any chance of getting a repayment mortgage or part repayment, any advice please. I am 46 years old and live alone.
0
Comments
-
Have you asked your current lender if they allow overpayments to be made.0
-
heartlands99 wrote: »I am tied into a fixed rate mortgage until Sept 2012, the mortgage is interest only. The house was bought for £162,000 in 2007 and the payments are £752.45 per month. My mortgage is for £145950. I put a deposit down of £17,000. The houses have depreciated in value. To get out of the fixed rate I would have to pay £7,000. Is there any chance of getting a repayment mortgage or part repayment, any advice please. I am 46 years old and live alone.
You don't need to get out of the fixed rate. If you just want to change to repayment ring your lender and they'll sort it (may be a small admin fee)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
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