Pension Credit and Mortgage Interest payments

morgaine65

nannytone wrote: »

not a criticism, just a question.....

you obviously knew when you took out your mortgage, that you would be past retirement age before it was paid off. how did you expect to pay it?

My mortgage period was set to finish next year. I never intended to retire when I did - circumstances dictated it. My mortgage had to be changed to an interest-only deal because of these circumstances. My plan was to continue with my business as long as possible but a decade of elderly parents and older sister needing many hours of my time owing to sickness prevented that.

Oldernotwiser

Why do you keep repeating the same information?

seven-day-weekend

Oldernotwiser wrote: »

Why do you keep repeating the same information?

Because he/she is giving the same reply to different people.

Oog

Hi OP.
Some suggestions:
Can you ring up the current mortgage company and extend the term to make it easier? Worth a try (although you don't say how old you are so this might affect their reply).
Do your kids know you are struggling? Can they help somehow? No savings or inheritance from your relatives (who you say you looked after etc).
How much do you have left on the mortgage?

Trying to be helpful...

Oldernotwiser

seven-day-weekend wrote: »

Because he/she is giving the same reply to different people.

Seems a bit unnecessary.

welshmoneylover

Is there any way you can return to some work, even part time?

morgaine65

Oog wrote: »

Hi OP.
Some suggestions:
Can you ring up the current mortgage company and extend the term to make it easier? Worth a try (although you don't say how old you are so this might affect their reply).
Do your kids know you are struggling? Can they help somehow? No savings or inheritance from your relatives (who you say you looked after etc).
How much do you have left on the mortgage?

Trying to be helpful...

Hi Oog - thanks for posting a reply. I'm 65. I have asked my current lender to extend my mortgage and I'm waiting for a decision. Might possibly extend for another couple of years. Still trying to persuade neighbour to form leasehold with 3rd flat owner and myself - she's resisted for 8 years so I'm not overly optimistic! If she does I'll be delighted and will put the flat on the market. My daughter is disabled and struggles herself; my son has 4 children and also struggles. However, we've discussed my situation recently and they've both agreed to contribute whatever they can as soon as possible. Unfortunately, there was very little inheritance, money-wise, from my parents but I was, however, blessed with love in abundance! I have £41,000 left on my mortgage.

Thanks for you help.

morgaine65

any way you can return to some work, even part time?[/QUOTE]

Hi there - with regards to work, I'm currently teaching myself furniture painting techniques - practising on my own household pieces. When I feel competent enough, I'll see if I can sell some of it - and who knows, it might be the start of a small business and I can earn enough to free myself from dependency on the state!