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100% shared ownership mortgage transfer
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I currently have a 100% fixed rate shared ownership mortgage. My 3 year fixed rate will be coming to an end in a few months and my current lenders variable interest rate for shared ownership is very high.
Obviously i'd like to look at moving the mortgage to get a more competitive (reasonable) rate, however, with (most likely) now being in negative equity due to the fall in house prices, i can't see that there is any way out.
Does anyone have any suggestions or advice or do i just have to accept the ridiculous interest rate? Apart from selling and making a loss... which isn't an option for me.
Thanks.
Obviously i'd like to look at moving the mortgage to get a more competitive (reasonable) rate, however, with (most likely) now being in negative equity due to the fall in house prices, i can't see that there is any way out.
Does anyone have any suggestions or advice or do i just have to accept the ridiculous interest rate? Apart from selling and making a loss... which isn't an option for me.
Thanks.
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