Interest Only - Halifax

mrsrich76

Hello All,

First time i have posted on the site - but i'm a bit stuck in knowing what to do and thought someone may have experience or knowledge.

My dad lost his partner a year ago and is on interest only with the Halifax.

It comes to an end in February 2013 - he is trying to work out his options which are very limited - he needs to do one more year on interest only as he is starting up a new business and income is low.

Halifax will not talk to him about what his options are whether he can do another year interest only until January!! this leaves him unable to make any decisions as to what he is doing??

Please can anyone advise on this or point us in the directions of some good advise.

Thanking you all in advance....:rotfl:

Thrugelmir

To clarify your question. Does the mortgage come to an end next year or the product which he is currently on.

mrsrich76

Hello thanks for your reply..

It is the end of a Interest Only period coming to an end. He had a 2 year break clause which allowed him to go interest only..

Thrugelmir

Then is going to be at discretion of the Halifax. Be prepared with a full income and expenditure budget to back up the request.