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Support for mortgage interest

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11 months 2 weeks ago #285372 by jan777
Support for mortgage interest was created by jan777
Hi
I receive support for interest on my mortgage but the original deal i had has ran out and now gone to the standard rate 8.5% with Santander. My previous payment made by the DWP SMI was £205 per month, it’s now £815.00 per month !!
I have tried to get some financial advice regarding the offers I can accept from Santander but impossible to get any free advice other than being referred to specialist help and still waiting for callbacks.
I don’t understand any of it .. Do I switch on line as suggested by Santander to a fixed or tracker and for how long ? The rate the DWP says they will pay is around 3% and every deal Santander offer is over 5% ?
I’d sincerely appreciate if someone could clarify what will happen if I choose a rate from Santander even their cheapest one.. Will I have to find the difference or will they pay for the interest and add it to the SMI loan i have and they have a charge already on my home ?
Any advice would be so so appreciated.

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11 months 2 weeks ago #285373 by Gordon
Replied by Gordon on topic Support for mortgage interest
J

I'm sorry but no one on this forum is qualified to give you financial advice, you need to speak to a trained advisor, see

www.financiable.co.uk/?cq_src=bing_ads&c...dvice%20~%20Personal

Gordon

Nothing on this board constitutes legal advice - always consult a professional about specific problems

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