ReMortgage Help - Ill Health Retirement

niviltl

Hi

Hope someone can advise me here.

We took our first mortgage in Nov 2016 from Natwest on a 2 year fixed rate @2.9% and its coming to end in this November. When we started, me and my wife was working full time and now, our situation has been changed. She is off from work due to illness (diagnosed on May 2017) and we feel like she might not be able to go back to work. Her employer has arranged first formal meeting next month to discuss things and they may be considering ill health retirement as an option.

Coming back to the point, I am earning close to 23K yearly and I do some freelance work which add £125 avg weekly. I understand the SVR on NatWest is quite high compared to what I am paying now. By the time of remortgage, I think the mortgage balance would be approx. £160K.

Can someone please advise what are the best options available in this situation?

Thank you in advance

Nivil

kingstreet

A customer retention product from your existing lender. You should be able to do it online with no further credit or income checks.

A remortgage (new mortgage from new lender to repay the old one) is probably not a goer.