Hi
I am hoping someone will be able to give some advice on my situation, before I talk to my mortgage provider.
For reasons I don't need to go into in detail here (business failure 20 years ago) I have been on an interest only mortgage ever since.
Some 5 years ago I moved to the Nationwide and had a fixed mortgage which ran its course 3 years ago, since then I have been on a very low variable rate.
My mortgage runs it's full term when I am 65, which is in 3 years 6 months time.
My question is, will Nationwide agree to extend the mortgage beyond 65? (I will have sufficient income to cover the repayments).
If they do not allow mortgages beyond 65 what would be the likely situation, as I would not be in a position to repay the mortgage without being forced to sell my home.
Any advise would be much appreciated.
I am hoping someone will be able to give some advice on my situation, before I talk to my mortgage provider.
For reasons I don't need to go into in detail here (business failure 20 years ago) I have been on an interest only mortgage ever since.
Some 5 years ago I moved to the Nationwide and had a fixed mortgage which ran its course 3 years ago, since then I have been on a very low variable rate.
My mortgage runs it's full term when I am 65, which is in 3 years 6 months time.
My question is, will Nationwide agree to extend the mortgage beyond 65? (I will have sufficient income to cover the repayments).
If they do not allow mortgages beyond 65 what would be the likely situation, as I would not be in a position to repay the mortgage without being forced to sell my home.
Any advise would be much appreciated.