Hi there hope someone can help in a difficult situation. We have an interest only mortgage which we took out when we moved into our new home 5 years ago. At the time my husband was earning good money but had a bad credit history. Not long after moving my husbands was made redundant and I went back to work part time while he got a job that dosnt pay very well. We would like to get a repayment mortgage but our current lender dosnt do them so we might as well be renting as it is money down the drain and we will still owe £250k in twenty years! We have approached a few banks but been refused the monthly payments were way beyond our means anyway. Any advice would be greatly appreciated, many thanks.
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