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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Amber Home Loans
simon2010
Posts: 101 Forumite
Hi there
I am on interest only with Amber and have been for the last two years, they are now insisting that I go back on to repayment mortgage but I don't have the extra £500 per month that this will cost me. I have not missed a payment on interest only in 24 months.
Can they force me to do this? Surely I will lose my home / incur extra charges etc if I cannot persuade them to leave me on interest only.
Anyone else had similar problem?
Thanks in advance.
I am on interest only with Amber and have been for the last two years, they are now insisting that I go back on to repayment mortgage but I don't have the extra £500 per month that this will cost me. I have not missed a payment on interest only in 24 months.
Can they force me to do this? Surely I will lose my home / incur extra charges etc if I cannot persuade them to leave me on interest only.
Anyone else had similar problem?
Thanks in advance.
0
Comments
-
How do you plan to repay the capital in the longer term?
Did you request a change onto an interest only basis due to financial difficulties?0 -
In the long term the mortgage will be paid (that has been worked out).
Yes it is due to finance difficulties in the past that are very nearly settled. I just need another 12 months on interest only.
Thank you for your input0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards