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.
We use cookies on our website. Some of them are essential for the operation of the site, while others help us to improve this site and the user experience (tracking cookies). You can decide for yourself whether you want to allow cookies or not. Please note that if you reject them, you may not be able to use all the functionalities of the site.
