End of Mortgage term what will happen ???

dalton_2

Hi Everyone,

does anyone have any information or experience of coming to the end of term on an interest only mortgage and not have the total owed available will the mortgage company renew the terms or evict you

bearing in mind you have never missed a payment and my investments have fell short I would have say 50% of mortgage and offer to pay it

is it likely they will not take this into consideration as no one seems to have a clue including the mortgage company

I really do not know where to turn, as really scant information available any advice is appreciated

regards

dave

getmore4less

You need a plan before that date don't wait, fix the problem

Ask if they will extend the term.
Put some on repayment
Start overpaying

Age and income might be an issue.

luckyfool

Remortgage for 50% of the balance over a longer term on repayment on or before the final day of the term.