Switcher mortgage from interest only

T

Trivia

Registered User
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5
Hi,

We are looking to switch mortgages from interest only to variable. Pepper have refused extend our mortgage term. Is it very difficult to get a variable mortgage to switch from interest only.

We have been turned down by a few banks as although we have saving we don’t a savings history which we are now reversing. We are financially sound,good income, large pension, home paid off, looking for less than 50% mortgage value of buy to let. Any advice?
 
Difficult to comment without some hard figures and other details of your overall financial circumstances and about the exiting buy to let mortgage.
Why were you refused by the banks that you approached?
Have you considered going via a mortgage broker?
 
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