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Ltv is 40 percent , interest only options
foxyuk
Posts: 966 Forumite
I am currently in Scotland on a rbs interest only mortgage that's tracker rate expires in a month
My options are fixed -- 2.69 for 2 yrs no fee
3.09 for 5 yrs no fee
Amount is £120k
Is there any other lender that's straightforward to deal with without jumping thru hoops ?
Thanks in advance
My options are fixed -- 2.69 for 2 yrs no fee
3.09 for 5 yrs no fee
Amount is £120k
Is there any other lender that's straightforward to deal with without jumping thru hoops ?
Thanks in advance
0
Comments
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Interest Only !!!!
How are you going to pay off the mortgage?
That is the first question any lender will ask!
Even if you remortgage with RBS they may also ask the same question.
£120K is a lot of debt to be taking into retirement !!!
You may not want to sell and down size or move into rented.
I know nothing about your situation so you might have lots of savings or endowments but lenders now look at affordability and a repayment vehicle they are happy with
REPAYMENT MORTGAGE!!0 -
Interest-only.
With, or without a "normal" repayment vehicle?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I'm downsizing in a few years time house is worth £300k and mortgage is £120k so no issue0
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