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No experience, need help please!!
chanya_Pakdeepong
Posts: 7 Forumite
I am 50. I am married but financially dependent from my husband. I have a mortgage of £93000. The house price is £200,000. At the moment I pay interest only 5.75 %( £446.25 per month) the lender is CO-OP. Recently I moved out to live with my husband and rent out the house for £800/ month. I do not have a job.
1. If I remortgage, will I have to look for BTL mortgage? (I don’t live at my home anymore.)
2. Will I be able to get interest only mortgage with lower interest?
3. Should I look for a repayment mortgage? I can afford around £700 monthly payment.
4. What will be the best mortgage for me and where can I find it?
Please give me some advice.
Thank you
1. If I remortgage, will I have to look for BTL mortgage? (I don’t live at my home anymore.)
2. Will I be able to get interest only mortgage with lower interest?
3. Should I look for a repayment mortgage? I can afford around £700 monthly payment.
4. What will be the best mortgage for me and where can I find it?
Please give me some advice.
Thank you
0
Comments
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Yes you can get interest only, yes you are likely to get a better rate and it is likely you will require a mortgage broker to achieve these.
Most buy to let properties are done on interest only, although you can have a repayment...
Good luckI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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