I have a mortgage which expires in September 2012. I would like to know if i will need to move out of my house to pay the money back to Santander because I may not be able to renew the mortgage.
I presume you mean that your mortgage deal will expire in 2012? If so then you will probably just go onto the standard variable rate.
As long as you can continue to make your mortgage repayments then your house will be fine.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
my mortgage deal comes to an end next month, i have already spoke to my mortgage company and had the mortgage put onto another fixed rate for another 2 years, easy to do really because u dont have to be credit checked or anything all they do is apply a new rate to the outstanding balance
A lot of mortgage companies these days, and I believe Santander are one of them, aren't renewing fixed rate deals at all. You were lucky.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I would be interested also to know who your mortgage company is. Our fixed rate expires next year, and although never defaulted, etc, etc, like many on here, and have been with them for over 15 years, as the bank account was the same as the mortgage company that was one of our creditors and am concerned that they may not renew our fixed rate in 2012.
Have never, in all the years having a mortgage, been on a variable rate
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
Hi our fixed mortgage rate ends this June (with Santander) and have already spoken to them and been advised that they will not be in a position to offer us another fixed rate and that we will automatically revert to SVR. We have had our mortgage with them over twenty years but due to the IVA they will not re-fix!!!! Never missed a payment either.
Part of my mortgage has just come off a fixed rate as of 31/03/11. Had a chat with my financial advisor and have been lucky enough to get another fixed rate for three years. My monthly payment has gone up by £40 but fortunately I have been allowed to reduce my IVA contribution by that amount. Have another part coming off a fixed rate September 2012. Don't think that I will be as lucky then as Halifax, whom I am with, are changing their interest only criteria from 8/04/11. Something to do with loan to value percentages. Good luck x
