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remortgage or equity release?
Georgio60
Posts: 2 Newbie
I have an endowment mortage which is due to expire this year. Unfortunately, due to severe financial difficulties, I had to surrender the endowment policy some years ago. It was going to fall woefully short in any case. I could attempt to sell the property before the end date but there are reasons why I would not wish so to do. I am nearly 70 so have been unable to find any financial institution that would be prepared to offer me any sort of mortgage. My wife is not yet 55 so equity release is not possible for a couple of years. I understand NatWest do a mortgage scheme for over 60's. Can anyone offer any help or advice please.
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Comments
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Outstandig amount
House value
Income of each of you(erned or pension)?0 -
The outstanding amount on the mortgage is £50k. I am told the value of the property is around £120k. Neither of us work any longer so our sole income is my state pension ( around £85 per week) plus pension credit, which pays our mortgage interest and council tax plus just over £100 per week.0
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