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anyone re-mortgaging interest only mortgages?

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1hu
1hu Posts: 3 Newbie
in Mortgages & endowments
my current mortgage is not fixed , 2% higher than boe base rate, interest only,property worth 360,000 , 120000 remaining.6yrs left on current mortgage , ant ideas ?

Comments

  • K_S
    K_S Posts: 6,877 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    @1hu All the lenders I can think of offer I/O re-mortgages. Each will have their own eligibility criteria wrt to age, term, repayment vehicle, income, min equity, etc so what products you qualify for (if any) will depend on your circumstances.

    My suggestion would be to speak to a whole of market broker to get a realistic idea of your options. The MSE guide here can help you find one.
    https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#step3
    1hu said:
    my current mortgage is not fixed , 2% higher than boe base rate, interest only,property worth 360,000 , 120000 remaining.6yrs left on current mortgage , ant ideas ?

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, 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. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • tifo
    tifo Posts: 2,107 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    1hu said:
    my current mortgage is not fixed , 2% higher than boe base rate, interest only
    That's very good, i'm on SVR and it's a standard 4.49% higher than bank rate
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