Mortgage

[chardonnay]

Hi Me Again,
Where do you go for advice on interest only mortgages?
I'm just wondering if there is any mileage in me going for an interest only mortgage, still paying the laon and selling in year 4? Anything at the moment is better than trying to sell and then trying to find somewhere to rent, etc.
I just thought that may give me enough time to get to grips with all this. All thoughts gratefully accepted.
Chardonnay x

[e.h]

Hi Chardonnay

Have you spoken to your current mortgage provider about going interest only for the duration of your IVA? That's what I did, although my mortgage provider told me that I couldn't afford it (!?!)even though the payments would be cheaper than I am paying at the moment ?????? (I won't mention their name on here!) so I didn't bother to change mine over.

Its worth a try talking to your provider though, they can only say no.

Liz
x

[cfnc]

We are with NR and have gone interest only for the duration of our IVA. Just had to sign a form

The advantage of going interest only, is that the four year release equity will be less as you are paying the extra now, or it makes an IVA feasable,

Hope this makes sense.

Kirsty

[butterflies]

Hi try Andy Graveson @ http://www.brightoak.co.uk/

he is known by Melanie

blue

[Soulgrowth]

Andy is lovely, give him a call [:)]

Debbie

[kal]

We too have gone with an interest only mortgage - with NR. They would only accept our proposal if we did this.
k.

[chardonnay]

Hi,
Many thanks for this information. I'm with GE Money and they haven't been helpful with anything to date, but i'll all them on Monday to see what, if anything they will do to help. I'll also contact suggested people.
Cheers,
Chardonnay