Can you ever appeal to a real person re a mortgage?

[AramintaJolly]

We have a mortgage of less than 3 x DH's salary and a LTV of 15%. So 85% equity in the house.

I was recently made redundant and we want to convert our mortgage to interest only as we are struggling. But because we have an outbuilding/annexe no lenders will take us on. Is there any way one can appeal to a real person in situations like this? It is unused and vacant.

We haven't yet spoken to our existing lender but as we have no redemption I asked a broker to look around and the above was what I was told. Thanks.

Did you ask a whole market broker? I can't believe they couldn't help you more.

Try a few more brokers but make sure they are wholly independent.

Thank you for replying, yes, we did. I will try another.

Araminta
Are you simply looking to switch to interest only to save money in the short term?

Hello boredandconfused, yes we are. As we are struggling on one salary.

Araminta
Obviously I don't know your full circumstances but if I were you I would go and talk to your existing lender. Most of them will allow you to switch to interest only if you are having financial difficulties, at least for a period of up to a year or so.

While in many cases remortgaging is straight forward, it's not always the case, particularly if you are looking for an interest only deal on your main residence. Lenders tend to avoid these without a suitable repayment vehicle in place. Remortgaging can also involve upfront costs (not always) and be time consuming depending on the lender, the broker, the solicitor etc etc...

Have a chat to your existing lender first, it is likely to be your quickest and best option if you are simply looking for interest only as a stop gap. If they say "no" you haven't spent anything on broker or application fees and are no worse off than when you started.
Good luck! Sorry about the redundancy

Thank you boredandconfused, that's helpful, I will do that. If I get another job we will be fine so fingers crossed.

Try London and country