Its highly unlikely you will get many banks willing to offer a mortgage. You will probably drop onto the banks SVR.

Is there any equity in the property?

Paul

Hi graham.

Your existing mortgage lender may well offer you new "deals" such as a choice of replacement fixed, discounted, or tracker mortgages. They can normally tell you whether they'll do this three months or so before the existing mortgage ends.

If they are not offering any replacement "deals" you'll normally move onto their standard variable rate. They'll be able to tell you what this is currently and what it will mean for your payment. Of course, the SVR can change and given the current low interest rates it can probably only move one way over time.

I doubt you'll be able to find a new mortgage lender I'm afraid, but you may still want to check with a mortgage broker.

Make sure the broker is an all of market broker.

Paul

Hi Graham

It is unlikely you will be able to move to a different mortgage lender, although you may get a deal with your current lender. The standard rate is pretty good just now, and people are ofetn finding their payments going down when they switch to the variable rate. The problem is as TDA says, the only way is up!!

quote:

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Originally posted by Shona Maxwell

Hi Graham

It is unlikely you will be able to move to a different mortgage lender, although you may get a deal with your current lender. The standard rate is pretty good just now, and people are ofetn finding their payments going down when they switch to the variable rate. The problem is as TDA says, the only way is up!!

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as long as its slowly up and not sudden 2 and 3% jumps!!

A new wave of repossessions is just around the corner.[:(!]

Paul

That is a depressing thought!!!