Mortgage at end of terms

georgeac_2

I have a mortgage which has just over 2 years to run and because we only pay the interest on it there will be a shortfall at the end. Would I be able to take out another mortgae then, when I`d be 65 or would I have to convert to it to a loan.
The alternative for us of course is to downsize and lose the mortgage altogether and we may do this, but I`m looking at any options before hand.
Thanks for any help.

VIGILANT22

The mortgage is £???

JimmyTheWig

I don't think you'll get a mortgage to take you past 65.
What are your chances of building up some cash now to be able to clear it when required?
Presumably your mortgage interest payments have come down significantly over the last couple of years? Would you be able to use this spare money to reduce the balance?

getmore4less

Mortgage?
Income now and after 65 if you retire.
Shortfall?

How long have you known about this issue?

Don't wait, get it sorted now.

Options will depend partly on the above ?

dimbo61

You can get a mortgage past the age of 65 with some lenders IF you can afford the payments.
You say there will be a short fall but not how much or even a close guess
If you can afford then overpay ( depending on your mortgage interest rate ) or save into cash ISA,s over the next 2 years and then decide if you want to use some of your lump sum and pension money IF you plan on retireing at 65!