I have similar offer from Mars although longer term alternative repayment option (ARA).Key difference is I'm on tracker and have
20 per cent arrears ,although have been overpaying by 20 percent last 2 years without missing payment .
Mars want to capitalise arrears and extend term whish reduces repayment currently making by 10 per cent .
They promise it stays on tracker rate and I also am struggling to see downside although sceptic in me thinks there has to be.
I am wondering is there special overpaying fights with tracker that I am loseing or cis there something else im missing..
20 per cent arrears ,although have been overpaying by 20 percent last 2 years without missing payment .
Mars want to capitalise arrears and extend term whish reduces repayment currently making by 10 per cent .
They promise it stays on tracker rate and I also am struggling to see downside although sceptic in me thinks there has to be.
I am wondering is there special overpaying fights with tracker that I am loseing or cis there something else im missing..