BM Interest Only Mortgage

davidswife

I have an interest only mortgage with Birmingham Midshires, SVR 4.83%, approx 10% equity. A broker has suggested that I call BM to see if they can offer a better repayment deal but before I do I'd like to hear from anyone who's done this. What questions are they likely to ask etc...

Thanks in advance.

dimbo61

Be very careful about this
Do you want to change to repayment ?
You have 10% equity so you are looking at 90% ltv deals.
Do they have any deals for existing customers ? At 90%
If you ring them now have you got a Repayment plan in place that is acceptably to them ?

davidswife

I'd like to get onto a better deal and start paying off the capital. The broker gave me a special number to call that deal with situations like mine, I'm an old style 'Self Cert' mortgage customer. No endowment or the like in place.
Thanks for your advice.