right i will try and make this simple.
I have borrowed £140,000 over 30 years
on repayment I pay back £750 a month (interest rate was around 5.7% I think at the time)
fixed period due to end november 2011 can leave but a small charge (think its £150)
After my wages go in and all bills come out I have about £20 left at the end of the month)
I want to know what is the best (in your opinion) what should I do.
Go interest only but owe £140000 in 30 years
Underpay about half so to owe £70,000 in 30 years?
carry on repayment but go to another lender?
I really need figure to be around £400 a month.
With the money over every month I can guarantee I will save at least £200 every month.
My parents have the money in property and when they die(not nice to talk about I know but I need to be realistic) their house is currently worth £265,000 and I am the only child so I will get any monies left over.
Any advice will be greatly appreciated.