We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
re-trying to reduce mortgage
joe134
Posts: 3,336 Forumite
Hi Guys, need a bit of advice please. My Son, has a SVR mortgage with Santander, 4.9% approx, always been on it..
He owes £28k, on the house, with 8 years left to run, £300 pcm, approx. I'm looking at how he can try and reduce that rate, Santander say they cannot better it.?
I've lost touch with mortgages,I don't have one now.
He has roughly, 80 % LTV , equity in the house.
Any advice would be grateful. In the low rate mortgages available, I'm of the opinion, that 4.9% is high.? is it ?
He owes £28k, on the house, with 8 years left to run, £300 pcm, approx. I'm looking at how he can try and reduce that rate, Santander say they cannot better it.?
I've lost touch with mortgages,I don't have one now.
He has roughly, 80 % LTV , equity in the house.
Any advice would be grateful. In the low rate mortgages available, I'm of the opinion, that 4.9% is high.? is it ?
0
Comments
-
It is higher than you would expect but if Santander do not want to offer anything new then its a case of seeing what other lenders will offer. But he then has to go through the underwriting process, its down to him to decide if its worthwhile or not.I am a Mortgage AdviserYou 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.0
-
Thanks ACG, I will put that to him. :beer:It is higher than you would expect but if Santander do not want to offer anything new then its a case of seeing what other lenders will offer. But he then has to go through the underwriting process, its down to him to decide if its worthwhile or not.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards