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Fixed Rate Deal ending - are we stuck on AVR? Halifax.
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sheepdemon_2
Posts: 5 Forumite

Our Fixed Rate mortgage ends soon, at which point we will move onto the banks variable rate/standard mortgage rate for interest. This will amount to around a £200 a month increase in mortgage payments. We were right at the end of taking out another mortgage deal when all this started kicking off (documents signed and sent to solicitors 2 days before the lockdown started) but now with the land registry being closed and the solicitors no longer open we're sort of screwed. Bank have advised there is no way to extend our current deal, and going on a payment holiday will not prevent the new interest rate kicking off - are we just screwed for the time being?
Our current mortgage is with Halifax and they've said nothing they can do, new mortgage with Platform, also nothing they can do. Mortgage broker is not answering phone calls or emails at the moment but is a largish company.
Our current mortgage is with Halifax and they've said nothing they can do, new mortgage with Platform, also nothing they can do. Mortgage broker is not answering phone calls or emails at the moment but is a largish company.
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Comments
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Why don't you just take a new rate with Halifax if you want to avoid the 3.74% rate.
When does your current rate end?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
amnblog said:Why don't you just take a new rate with Halifax if you want to avoid the 3.74% rate.
When does your current rate end?
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Go online and select a new product from those on offer from the Halifax. Your current product cannot be extended as its come to the end of it's term.
Are you increasing your total borrowing in remortgaging with Platform?0 -
amnblog said:Why don't you just take a new rate with Halifax if you want to avoid the 3.74% rate.
When does your current rate end?0 -
Are your solicitors not operating at all?
Surprised to hear that Land Registry is closed.0 -
What is your balance with Halifax and the property value?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
WillimS2020 said:amnblog said:Why don't you just take a new rate with Halifax if you want to avoid the 3.74% rate.
When does your current rate end?
These are extenuating circumstances and unusual indeed."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Take the payment holiday and pay whatever you can off the mortgage in the meantime.0
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Thrugelmir said:Are your solicitors not operating at all?
Surprised to hear that Land Registry is closed.0
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