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Advice on my mortgage please
I_will_win
Posts: 49
Forumite
I am on a repayment mortgage with BoS,and pay a reasonable sum of £260 a month. Would i be able to make my payments less if I go to an Interest only mortgage??? I am not tied in just now and would be looking to sell my house in a few years time.
Any advice would be great.
Any advice would be great.
“Just Say NOvember; Batten Down the Hatches”. #8 £39.30/£[STRIKE]90[/STRIKE]£40 NSD 25/25
Sept 1st,Halifax, [STRIKE]£650[/STRIKE]/£0.
Barclays,£[STRIKE]4950[/STRIKE]/£3600,Nationwide,£[STRIKE]2500[/STRIKE]/£2100, Creation £[STRIKE]2445[/STRIKE]/£2370Flybe,£[STRIKE]900[/STRIKE]/£860
Littlewoods Catalougue £[STRIKE]1120[/STRIKE]/£210
Argos account £[STRIKE]700[/STRIKE]/£330
Sept 1st,Halifax, [STRIKE]£650[/STRIKE]/£0.
Barclays,£[STRIKE]4950[/STRIKE]/£3600,Nationwide,£[STRIKE]2500[/STRIKE]/£2100, Creation £[STRIKE]2445[/STRIKE]/£2370Flybe,£[STRIKE]900[/STRIKE]/£860
Littlewoods Catalougue £[STRIKE]1120[/STRIKE]/£210
Argos account £[STRIKE]700[/STRIKE]/£330
0
Comments
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You may be better posting on the Mortgages board as a few brokers over there.
I'm not sure if your current provider would let you go interest only if you're not in financial difficulty (they may let you do this for a certain time if you've been made redundant or are in severe financial hardship).
How are you going to fund the difference at the end of the as they may ask that?Grocery Challenge £211/£455 (01/01-31/03)
2016 Sell: £125/£250
£1,000 Emergency Fund Challenge #78 £3.96 / £1,000Vet Fund: £410.93 / £1,000
Debt free & determined to stay that way!0 -
I know with my mortgage provider you have to have a certain amount of equity in the property to go interest only. Most no longer offer this. Give them a ring and ask...DEBT FREE AND PROUD
'Better to remain silent and be thought a fool than to speak out and remove all doubt'0
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