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Fixed rate finishing soon.
Lynn_a
Posts: 1 Newbie
We have a 10 yr fixed rate mortgage ending in Oct. Have had no letter from the bank. Will it just change to variable rate?.
It was high interest payment, 6.4%? For a mortgage of about ?£22,500. We have got it down to about £16,500. Got 2 yr 1 month left of a 25yr mortgage.
Also got our endowment statement, its green, no shortfall, in other words. I know that can change by the previous years.
Just feels good to be nearing the end of it, but also worrying as hubby on the sick at the moment, though the insurance is paying the mortgage. Actually that's been a good help as he was made redundant twice as well and they paid out.
It was high interest payment, 6.4%? For a mortgage of about ?£22,500. We have got it down to about £16,500. Got 2 yr 1 month left of a 25yr mortgage.
Also got our endowment statement, its green, no shortfall, in other words. I know that can change by the previous years.
Just feels good to be nearing the end of it, but also worrying as hubby on the sick at the moment, though the insurance is paying the mortgage. Actually that's been a good help as he was made redundant twice as well and they paid out.
0
Comments
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Too late now but you should have looked at paying the penalty and changing.
Which lender?
check your documents not all mortgages go to the lenders SVR some went to tracker rates.
there may be options to take a lower rate than the your followon for the 2 years.
Check the endowment actual payout.0
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