Thank you for taking the time to read my post, I appreciate it very much.
I have always admired the MSE Forum and have been lurking here for a while, I have finally plucked up the courage to ask for some guidance/help.
I have a mortgage with Santander for £136,535.33 and I am paying Interest Only of £539.31 Per month, I am on the SVR of 4.79% and I have only made only interest payments for the last 10 years (Very Stupid).
I have savings of approximately £37,000 of which £8,000 is earning 4% AER fixed for two years with Islamic Bank of Britain, £6500 is in bank deposit account with Islamic Bank of Britain and the remainder is in premium bond (Not Won Anything Yet)
I am also ashamed to admit that I have a bed credit history and I am currently on a debt management plan with the consumer credit counselling service (STEP previously CCCS).
I have been self employed for the last 6 months after I lost my job and I am a freelance content writer on the internet, I earn between £1800 to £2000 per month depending on what contracts I choose to take on.
I was hoping someone could advise me on the following questions:
1. I want a better deal for my mortgage payments, should I remortgage and what is the best provider for people with bad credit?
2. What can I do to pay this off quicker, are there any tips or examples of people who have really paid their mortgage off quickly. (I guess I need some inspiration)
I would appreciate any advice you could offer and I want to thank everyone is advance. Thank You.
I have always admired the MSE Forum and have been lurking here for a while, I have finally plucked up the courage to ask for some guidance/help.
I have a mortgage with Santander for £136,535.33 and I am paying Interest Only of £539.31 Per month, I am on the SVR of 4.79% and I have only made only interest payments for the last 10 years (Very Stupid).
I have savings of approximately £37,000 of which £8,000 is earning 4% AER fixed for two years with Islamic Bank of Britain, £6500 is in bank deposit account with Islamic Bank of Britain and the remainder is in premium bond (Not Won Anything Yet)
I am also ashamed to admit that I have a bed credit history and I am currently on a debt management plan with the consumer credit counselling service (STEP previously CCCS).
I have been self employed for the last 6 months after I lost my job and I am a freelance content writer on the internet, I earn between £1800 to £2000 per month depending on what contracts I choose to take on.
I was hoping someone could advise me on the following questions:
1. I want a better deal for my mortgage payments, should I remortgage and what is the best provider for people with bad credit?
2. What can I do to pay this off quicker, are there any tips or examples of people who have really paid their mortgage off quickly. (I guess I need some inspiration)
I would appreciate any advice you could offer and I want to thank everyone is advance. Thank You.