Please help!

bell643

Hi, 
Our current mortgage is with Halifax but we need to remortgage before 30th May. The rate Halifax are offering us is ridiculously high! We have been self isolated now for 2 weeks (our 6 year old is at high risk due to having pneamonia twice this year), this is obviously affecting us financially. Both companies that we work for are furloughing us so atleast we have some income. Question I have is, if we put our mortgage onto a 3 month holiday would the bank move the remortgage date back too? Or would we be better to not remortgage and just pay the higher rate until we know where we are financially. Or should we ring other banks to see if they will remortgage us? Or is this a waste of time?? No idea what to do!! 

Thrugelmir

What products is the Halifax offering you? 
What's your property LTV?
How much do owe? 
There's a guide on MSE.
https://www.moneysavingexpert.com/mortgages/best-buys/

bell643

Hi, thank you for the reply.
Our LTV is 74.63% 
Halidax are offering us 5 years fixed at 3.74. It's nearly £100 more a month than what we are currently paying. 

We have contacted 2 banks and neither will give us a mortgage as we cannot prove our jobs are safe. 
We still owe £90,000.

Thank you 

amnblog

Halifax don't do a 3.74% 5 year fixed rate.
The 5 year rate is 3.69%, or you can get 3.24% if you take a 2 or 3 year fixed rate

bell643

Well these are the figures I have been given from Halifax direct. Either way the rate is high and not really helping us. 

Thanks