Mortgage

[Kitty33]

Hi all,

My mortgage is due for renewal in another 4 months I am currently on a fixed rate, I was just wondering when I go to remortgage will me being in an iva affect me staying on a fixed rate and will I be put on a higher interest rate? Also will my current lender still offer me a deal?

Thanks
Kitty

[leaKybrain]

Hi kitty, sorry can't help with the answer, i wish I could as it applies to us too. we will have got the iva set up by end of this year and our fixed rate is up at the end of April. I assume we will have to do a SVR. having looked online at our mortgage lenders site, and used their calculator to see what it would be now based on what we still owe our payments will go down. My worry is that if we leave it on SVR there may be months when the payments are higher. Am really hoping to get a fixed rate term again.

[Broke of London]

I don't have a mortgage myself but from reading other posts people tend to have very different experiences. Some go onto SVR when their fixed rates come to an end. Best to speak to your mortgage lender direct to put your mind at rest.

[GettingHelp]

hello there, just to let you know I have just been able to get another 2 year deal with our mortgage provider, but I guess it depends on the individual lender.

[leaKybrain]

oh thats good GH, who is your lender. Ours is Skipton

[back on track]

im not anticipating any probs getting a fixed rate when mine runs out.
if i went on the svr my payments would drop by nearly half,so they wouldnt be making as much.
so what would you do if you were them[:D]

[GettingHelp]

my mortgage provider in santander hope that helps