Poss Simple Question - Deposit for Remortgaging

SusanShaw

Hi all,

We're currently on SVR and am wondering whether it might be time to look for another fixed rate mortgage. However, we don't have much spare money at the money. Do you need a deposit?

We currently owe arount £144,000 on a flat that is worth around £150,000 (I hope!).

thanks!

The_J

You'll probably have to stay put. What is your interest rate on the SVR?

beecher2

You're stuck with whatever your present lender is willing to offer you. Phone them up to find out your options and weigh up whether you're better staying on the SVR or not. Try to save/overpay to get your LTV down, and to give you a cushion for when rates go up.