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Mortgage dilema
bigmex
Posts: 9 Forumite
We cutrrently have a mortgage with Santander for £20,000 - whicch we are paying an interest only mortgage - relying to pay it off with an endowment policy which matures in 2014. With the nes of the SRV increase with Santander - is it worth trying to re-arrange the mortgage to a 2 year fixed ter - hopefully without incurring charges ?
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Comments
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You can call the lender and see what options you have. Only they can decide, since the interest only mortgages are now going out of the market you may not get any deal available. Best check with the lender though.
You may also consider overpaying if allowed to your interest only mortgage to reduce the capital. Once you have the endowment, you can keep the difference.0
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