Can my current mortgage provider refuse to renew my mortgage with them?

Myself and my partner bought our house 2 years ago and the fixed rate is coming to an end at the end of December. The thing is, we got into a bit of trouble at the start of this year and we got behind with our payments for the mortgege, car finance and a few other direct debits, all the arrears have now been paid off but our credit rating has been affected, especially mine. Our mortgage provider is the Halifax and i'm worried that when we go to renew with them they will not want us as a customer anymore. Help please??? Can they tell us to find another lender???





I should add that we were first time buyers and we put 拢30,000 into our house so we had quite a big deposit and we have a lot of equity in our house.|||It depends on the actual terms of the mortgage. Usually, when the fixed rate period comes to an end you are automatically transferred to their standard variable rate. It's then up to you to try and negotiate a better deal either with the same lender or another. With the present squeeze and your damaged credit rating, you probably won't find one.|||No think it is unlikely they will dump you but they might well charge a higher rate of interest. Then its up to you as to whether to continue or find another lender, With your rating and the current squeeze that might not be possible. So be prepared for rather higher payments. next year, Don't spend anything at Christmas .. |||I'm 99% sure that when your current agreement comes to and end, either party, i.e. the mortgage provider or you, can decide not to renew. Basically there is no such thing as renewing - it is in fact a renegotiation, even though mostly people agree to carry on as before.





As to what sort of notice that has to be given, Im not sure. Normally the mortgage provider contacts you beforehand.





The best thing to do is to contact them as soon as possible and ask how they stand on the matter. That would give you time to make other arrangements if they don't want to carry on with the agreement.





Good luck!|||Go and renew your fixed rate when its due at the end of December. However, if you want your rate to be changed to a variable you can also tell them to do so.. Your instalment arrears has been paid so you are considered a valued customer. Halifax must also have good reasons and follow the laws of contract, if they decided not to renew your mortgage or ask you to find another lender, otherwise you can sue them.|||You will not be refused. Keep making your payments on time..