Mortgage Charter Timing

Robin_L

Good morning,

I've had a hunt through the forums and haven't found an answer to this question. Apologies if however this question has been asked before and I missed it.

I've got a residential repayment mortgage with Barclays and my current fixed deal ends 31st August 2024.

I'm considering applying to switch to interest-only payments for six months but my question is when can I do this.

Can I do this, for example, at the end of July this year, and be interest only for 6 months, even though my fixed rate would end 1 month later in 31st August, or do I need to apply at least 6 months before my current fixed rate deal ends.

Thanks,

Robin

Hoenir

You can apply at any time. The concept being to assist people in temporary financial difficulty.  Each case will judged on it's own merits. 

MWT

Robin_L said:

Can I do this, for example, at the end of July this year, and be interest only for 6 months, even though my fixed rate would end 1 month later in 31st August, or do I need to apply at least 6 months before my current fixed rate deal ends.

The 6 month interest only period will not extend your fixed rate, that will still end on the 31st August, but in the absence of selecting another product you would be on the standard variable rate for the 5 months after 31st August...