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bell643
Posts: 3 Newbie
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!!
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!!
1
Comments
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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/
1 -
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
0 -
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 rateI 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 -
Well these are the figures I have been given from Halifax direct. Either way the rate is high and not really helping us.
Thanks0
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