My mortage interest rate - 14.05%!!

chelseablue

Do you live in the house or rent it out?

If you live in it you are not allowed to have a buy to let mortgage, you should have a residential one.

Id check with your lender what type you have

Conrad

Puddle Duck

The reason you are getting stick here is that saying you dont know if it's B2L is like saying I can't remember whether I passed my School exams.

You either applied for the mortgage on the basis you were going to live in the home, or to let it out. Surely you know whether or not you intended to live there??

As I've always said, and please take this as my trying to help, 99.9% of bad debters / high rate payers are simply disorganised, but you can change this, just learn to do everything thoroughly and take time. You will find you end up with more time not less as you wont constantly come up against problems like the one you are encountering now.

PS - Most bad debters say this "my luck is bad", when in fact it is thier lack of attention to detail and lack of planning that leads to the bad luck.

EXAMPLE: A commonly used line is "the bad debt is'nt my fault, there was enough money in the Bank but the Bank messed things up".

What they forget to mention is the fact that a cheque they wrote out 3 weeks ago cleared on the same day the debt was due. Organised people would have checked whether the cheque had cleared already.

Again, I really am trying to help you and others reading this understand that thier bad luck really is pretty much self inflicted - we all experience mishaps, but planning and careful thought (such as useing special deliver post when sending cheques) should mean the mishaps are less and you have proof to back up your claims (ie - I have proof the cheque arrived).

Good luck, and Im afraid the Kensington rate is probably right due to the etra arrears developed.

jonewer

If you are living in the house and have a buy to let mortgage you could be breaking the law.

Quite honestly, and I dont want to appear cruel here, but maybe this is financial darwinism in action.....