I currently have a mortgage with a rate of 5.84% and want to remortgage to a better rate. My current lender will not play ball based on affordability.
I fear another interest only mortgage may not be available to me which would mean I could only get repayment which may not result in a lower monthly payment. I am 55 this year and my wife just turned 58. How could you potentially help us?
Ask the Specialist response:
Thanks for your enquiry to us.
Equity that you have will effect a rate of interest, however, it will be your income which will determine how much you'd be able to borrow and whether you would be able to remortgage away.
Although your ages would be an issue for a number of mortgage lenders, Capital Fortune have had success assisting multiple applicants in their mid 50s, arranging long term mortgages for them in the process.
If you just wish to obtain an indication on whether we are able to assist you, given your specific circumstances, I'd recommend speaking to one of our Advisers on 02077100400 or send us an enquiry online and one of our Advisers will call you back.