Re-mortgage, am I stuck?

[huggydave]

Hi all

Im new so if posting this in wrong forum tell me im a plonker and I'll shift it. I'm not the most understanding when it comes to the financial language and believe everything my mortgage company (accord) tell me but am starting to wonder if I could do better else where or if no one will touch me with a barge pole.
Me and my brother took a 100% mortgage in 2007 intending to do up and sell on the property quickly to make some quick wonga but as you all know financial collapse, recession, credit crunch, blah blah blah. Basically we were in negative equity fairly fast so were stuck with it so me and my girlfriend made it our home.
We have being paying huge mortgage payments and I'm afraid of signing up to another fixed as what I'm being offered is not much lower payments than what we've being paying since we took out the mortgage but a lot of people tell me other lenders will be reluctant to offer me anything as our mortgage is still over 80% of our property's worth.
My current lenders mentioned that linking our savings to our mortgage may bring down re-payments but I don't know anything about them, does any one have experience with this?
Any feedback of if I'm stuck with same lender or have hope of lower re-payments will be massively appriciated.

Many thanks all

Dave x

[BBNB]

Re: Re-mortgage, am I stuck?

I am afraid you are stuck without significant equity. Offsetting has been around for a while, but traditionally the deals have been far more expensive than ordinary mortgages and have also carried hefty fees, so probably not right for you.Keep talking to your current lender and keep an eye on the mortgage marget and hang in there for now I'd say.