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Mortgage to Rent Scheme

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Mortgage to Rent Scheme

Post by Guest on Tue Aug 16, 2011 4:42 am

Been enquiring about the above scheme.

Presently in a Repayment Mortgage and have been informed as I have not got any arrears I do not qualify at this time. Also we have to discuss with our mortgage providor our financial status and they may put us on an interest only mortgage.

At age 55 and owing 100k in a 2 year fixed deal (1 year left to run), interest only would be a disaster for us. In full time employment and have already had a chat with local money advisor who agrees the mortgage is the problem.

Any advice or name of a decent IP appreciated.

Edit: Although not in arrears we have no available funds to live off.
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