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30 Year Term Mortgages

pennypincher1010 · 2008-10-23 19:23:20

Hi There I am in my late 30's and re-mortgaged 2 years ago. I extended the term of my mortgage to 30 years in order to make monthly payments lower. My brother who is younger than me said that he tried to get a 30 year term from his lender and they refused - this made me think about my setup!? I am due to re-mortgage again…

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koexelek Posts: 7,847 Forumite

24 October 2008 at 8:15AM

pennypincher1010 wrote: »

Ixwood, I am in year 28 of paying mortgage - I was wondering if I would be forced to take a 25 year term when I re-mortgage early next year. Obviously, this will push up payments.

Cheers
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I highly doubt it. Most lenders are still oK with 30 years( or even longer) as long as you can demonstrate you have the ability to pay the mortgage for the whole term

I am a Mortgage adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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30 Year Term Mortgages

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