can you change your mortgage if you are

Hi buildings,
Don't think the fact that your dad is 65 is, in itself, a bar to remortgaging elsewhere but there may be other factors that are. Quite a few lenders, I believe, will lend beyond retirement age.

If it's an interest only mortgage linked to an endowment he will still owe the full amount he originally borrowed [unless he's overpaid] so the first consideration has got to be whether his income [in retirement?] is sufficient for other lenders. They all employ slightly methods of deciding how much to lend based on income but that MAY be a problem.

I think his first port of call should be to Abbey to see if he can switch products with them. He won't get one of their best deals [brand new customers ONLY!] but there may be a better deal than the one he's on now, with low or even no fees.

If that doesn't work it would certainly be worth approaching a broker, locally or one of those linked to the mortgage section of this site. Most take fees from the lenders so there shouldn't be any costs if they can't find him a better deal [check this out first though!]. Obviously there may be fees payable to remort and these, added to a lower interest rate, need to be cheaper over the term than what he's paying now or what Abbey might offer as a product switch.

Another thing to consider is his endowment. Has he had red or amber warning letters? If so he may need to consider whether he may have to deal with a shortfall when his mortgage ends at age 75. That's a whole post on it's own but worth checking out the position with him now.

I think [I'm not certain], like you, he could probably get a better deal either with Abbey or elsewhere. BoL.