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Help required re BOS Mortgage/SVR term
Bluesky_searcher
Posts: 1 Newbie
Hi,
We are urgently needing advice/best guesswork from others who have been in a similar situation ...at present we have an interest only mortgage that the Halifax has granted us to contine for a couple of years on a SVR rate of 1.85%. We have just received the annual statement as the existing term is due to expire 31.11.12. The house has been removed from the market for the winter period with a view to attempting to sell in the new year..It started at just short of £290k 3 years ago/ now at £228k with an outstanding mortgage of £212k (so are getting towards negative equity).Question is do we do nothing and hope the rate stays the same or do we speak to the Halifax and request a further year?? We are hoping that if we reduce the asking price further we may sell within 6 months. Anyone any advice please?
We are urgently needing advice/best guesswork from others who have been in a similar situation ...at present we have an interest only mortgage that the Halifax has granted us to contine for a couple of years on a SVR rate of 1.85%. We have just received the annual statement as the existing term is due to expire 31.11.12. The house has been removed from the market for the winter period with a view to attempting to sell in the new year..It started at just short of £290k 3 years ago/ now at £228k with an outstanding mortgage of £212k (so are getting towards negative equity).Question is do we do nothing and hope the rate stays the same or do we speak to the Halifax and request a further year?? We are hoping that if we reduce the asking price further we may sell within 6 months. Anyone any advice please?
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