Mortgage coming to end of fixed rate

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headbanger
Posts: 170
by headbanger » Sat Jan 23, 2010 9:01 am
Our mortgage is made up of three elements and are due to revert to svr in may. We are on interest only one. We are with britannia bs. We have a major problem in that we have had to go to a debt management company to sort out our unsecured debt last august. So we now have adverse credit history. We have been with Britannia ten years and have never missed or been late with a payment ever. Do you think we would be able to go onto another fixed rate deal if we didn't borrow any more and had a fee free deal basically switching to a new product with no additional lending or will we just have to stay on svr

 

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Shining
Posts: 27023
by Shining » Sat Jan 23, 2010 9:26 am
http://www.iva.co.uk/forum/topic.asp?TO ... remortgage

Hi there we had a similar post a while back and I'll post a link to that and hope it answers your question, if not do get back to us and we'll try to help and I'm sure a professional will be along very soon. x

 

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headbanger
Posts: 170
by headbanger » Sat Jan 23, 2010 9:37 am
Thanks very much Lesley. I haven't been on forum very much lately since dmp was setup so not upto speed with previous posts. The link would be great

 

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c.j
Posts: 271
by c.j » Sat Jan 23, 2010 10:39 am
our fixed rate is ending soon and i have just had a letter from the building society.It looks like i will have to go with the SVR mortgage as all the new fixed rate mortgages are asking for 75% ltv.As we are in negative equity this is impossible. will just have to hope the morgage rates dont go up too much as we will be in trouble.

 

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kallis3
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by kallis3 » Sat Jan 23, 2010 11:06 am
I think they will stay pretty low for the time being.

We've always been on the standard rate, although our mortgage payments are only reviewed once a year.

Not looking forward to it going up though.

 

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headbanger
Posts: 170
by headbanger » Sat Jan 23, 2010 11:19 am
Do you think I shouldn't enquire with Britannia as it will just open a can of worms if they start digging around and spoil us going into thier svr or if it is just a change of product without fees it will be ok with our 100% past history with them. Had letters off them about switching to a new fixed rate deal but they will not have done a credit check. Not sure how it all works

 

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millsy22
Posts: 104
by millsy22 » Sat Jan 23, 2010 11:40 am
hi we have interest only that came to end this month with hbos and just phoned and haave got another deal for next year and we in iva they never asked for any information and we havent missed any payments either so maybe this counts for something i would haave thought that you dont have adebt with them that they shouldnt penalise you you still paying them

 

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headbanger
Posts: 170
by headbanger » Sat Jan 23, 2010 11:48 am
Hi millsy22. Thanks for your post. It gives you a bit of hope. A fixed rate change now for us would save us a bit as we are on a 6.9 from last year

 

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headbanger
Posts: 170
by headbanger » Sun Jan 24, 2010 9:55 am
Lesley, thanks for the link. Still not sure wether to drop into Britannia svr and say nothing or to ask them about a new fixed rate hoping my 100% ten year payment counts for something. If because of asking them could they prevent me just dropping onto svr which is cheaper than what I am paying now but will go up in near future no doubt.

 

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Cath
Posts: 1329
by Cath » Sun Jan 24, 2010 4:50 pm
If you are staying with the same lender and just switching to a fixed rate and not re-mortgaging it might not be a problem. Worth putting a call into the lender.

 

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Shining
Posts: 27023
by Shining » Sun Jan 24, 2010 6:10 pm
Nothing ventured etc., I would give it a go at least. x
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