help - losing my house?

dotdash79

I would also go back over your original dealing with your broker, and look at why he recommended that in writing.

carslet

billybobz wrote: »

100%. Term was about 7.5 years.



This might be the way I have to go. Not good for my wellbeing however, all that time just sitting and hoping things improve.

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ok i understand, but if you don't do anything now you will owe it all, at least this way gives you a chance of paying down as much as possible, and possibly by then if there is a small increase in house prices, this would help, or there might even be 5% mortgages available by then,

take the chance get on repayment asap, pay the 10k off if you can, and pay any over payments you can, and review in 1 year from your first payment

dotdash79

Don't switch to repayment, if you only have a year left of your mortgage your monthly repayments will be around £10k. Make capital repayments but stick to IO