My SOE... At last..!

nickbrat

Tixy wrote: »

Are you on a fixed apr? if so when does it end? it does seem quite a high APR, if on fixed do you know what rate it will go to when it ends?

At a guess your remaining mortgage terms is quite a bit shorter than 25years, which is why your mortgage payment would look higher than someone owing that much but still over 20years left to repay.

You could potentially extend the term of your mortgage, but I wouldn't consider based on there being other reductions you can make, and that the car & son costs will be reducing soon. and that there are other savings that would be better than increasing the term of your mortgage.

These are my mortage details:

Amount Advanced : £78,750.00
Type : Capital Repayment
Term : 18 Years.
Interest Rate : 5.28%

Mortgage Product : 3 year 5.28% fixed rate.
Interest expires on 31st December 2012.
Rate after product expires: Standard mortgage rate.

What do you think?

MusicalLawyer

You say your son couldn't find a job when he left college... Did he not go on Jobseekers Allowance? I used to pay my mum £25 a week out of my JSA, which turned out to be quite a big help for her, even though it was such a tiny amount. I know he is joining the Marines, but he could still have looked for work in the meantime, and gone on to that benefit.

Obviously this is assuming he is 18, though even under 18's can get JSA in certain circumstances. I was able to get it at 17.