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Switching From Interest Only to Repayment Mortgage
napper23
Posts: 1 Newbie
My lender (Mortgage Express) has written to me saying they are going to change my mortgage from interest only to repayment in approx. 5 months time. Can they do this? We do have a repayment plan, but switching to repayment at the moment would be a complete nightmare. I can obviously go elsewhere, but the interest rate won't be as good. Any suggestions / advice gratefully received.
Thanks.
Thanks.
0
Comments
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Have you provided evidence of the repayment plan to Mortgage Express? Is the repayment plan on schedule to repay the debt?
If you are currently on a good rate then worth staying with it. Even it means changing your plans.0
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