Extending period of mortgage repayment

sebastianj

Dear all,
I will in a couple of years time, finish off paying my mortgage but would like to extend this period for a few more years. I have been very happy with my current arrangement with Abbey and I rather continue with them rather than choosing a new lender. I have this Flexi mortgage and have been over paying for a long time.
Can the duration of a mortgage go beyond 65? and to what age? Shall I approach Santender or a new lender?

Any advice most appreciated. Thanking you all in anticipation.
sebastian

sebastianj

Any help advice most apprerciated,
sebastian

dunstonh

Can the duration of a mortgage go beyond 65?

yes. subject to lending criteria being met.

and to what age?

there are no rules saying any maximum.

Shall I approach Santender or a new lender?

whichever is best. Its impossible for us to say without the facts.

jamesd

The limit may be 75 for Santander, check with them. Repaying a mortgage after you get the state pension money can be a really good move if you're looking to retire before then. Just need one of the lenders that will let you do it.

There's a list of some current maximum ages in this "Too old for a mortgage" story.

Equity release mortgages are available at older ages than this but are often more expensive. Though the Halifax Retirement Home Plan mentioned on the second page of that story at 2.99% with £1,000 fee and up to 40 year term looks interesting.

sebastianj

Very many thanks to both of you, 'Dunstonh' very precise as usual 'jamesd', Halifax Plan looks very good.
seb