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Nationwide - Unable to get a new rate?

Thinfield
Posts: 1 Newbie
I have less than 2 years to run to pay off on my interest only mortgage. My current fixed rate ends this month and I am being automatically moved onto the SVR.
This is much more expensive and liable to increase further if interest rates rise.
Nationwide will not offer me a fixed rate deal as they do not have such products for less than 2 years.
What options do I have to find a deal to ensure my payments are manageable for the next ~20 months?
Thanks
This is much more expensive and liable to increase further if interest rates rise.
Nationwide will not offer me a fixed rate deal as they do not have such products for less than 2 years.
What options do I have to find a deal to ensure my payments are manageable for the next ~20 months?
Thanks
0
Comments
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Nothing unless you can extend your borrowing time.What are your plans to repay the capital in 2 years? Can’t you repay now?1
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Very few lenders are now doing Interest only mortgages and many have not offered them for years.
So I am guessing your mortgage is 20+ years old ?
What were your plans to repay the mortgage ?
Endowment?
Pension lump sum ?
Sell up and buy a smaller property for cash ?
If your still working you could look for a mortgage broker to see what's available for your circumstances1
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