Hi - as the title suggests we've had a five year fix rate (Santander 5.79%) interest only mortgage. We moved from London to Sussex and actually half way through and have overpaid maximum each year so £50k on the lifetime of this mortgage.
We now owe £165k on a property value of 350k so good LTV.
My question relates to rates on offer now. I read with interest the post about Santander offering terrible rates - they have done the same to us. i suspect even if we opened a 123 account that wouldn't change.
So could anyone offer some advice on who would take us now. ideally I'd love to do interest only but overpay each month. I earn 49k and my wife earns 10k. We have 13 years left on our mortgage and calculators show on a 3percent plus rate we are looking at £1200 so I would like to pay under £1k if possible with a young family. No others debts and 20 k savings. Any advice appreciated from you knowledgeable folk.
thanks
We now owe £165k on a property value of 350k so good LTV.
My question relates to rates on offer now. I read with interest the post about Santander offering terrible rates - they have done the same to us. i suspect even if we opened a 123 account that wouldn't change.
So could anyone offer some advice on who would take us now. ideally I'd love to do interest only but overpay each month. I earn 49k and my wife earns 10k. We have 13 years left on our mortgage and calculators show on a 3percent plus rate we are looking at £1200 so I would like to pay under £1k if possible with a young family. No others debts and 20 k savings. Any advice appreciated from you knowledgeable folk.
thanks