I have an interest only mortgage due to expire in March 14 for £54,000, current house value £160,000. My problem is this:- I have three endowments on this property that all mature at different times. This is due to time spent in the military, in that I was deployed on ops during one house buying venture, let down in another and finally securing a property on the third attempt. The prices of the properties kept changing, necessitating me to top up the endowments each time. The first endowment is due on time (Mar14) for £30,000 the second in June 14 for £11,000 and the final one in Nov 14 for £13,000. I have been notified of shortfalls in all three but have savings and share save schemes to cover these. My questions are these:- Do you think that my bank, Santander would agree to a 12 month extension on my mortgage on its present terms, bearing in mind that it is with Alliance and Leicester and when should I approach them. Another mitigating factor is I am 65 next month but I do intend to keep working until I get this weight off my shoulders. I was just wondering if anyone else has been faced with a similar situation and what they would suggest. please keep any replies in their simplest forms as I am not a financial expert
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