Lender view/credit impact of extending mortgage term....

Stewpotter

Hi

I am struggling financially at the moment and I'm looking at ways to address this.

I am thinking of either asking my lender (Nationwide) to consider extending my term in order to reduce the monthly payment. A few questions:

- is there a standard, maximum age that lenders use - e.g. 65 or 70?
- are there any conditions required to permit this?
- might this have an impact on my credit rating or how my lender
views me?

Thanks, in advance.

Thrugelmir

Extending beyond normal retirement may require evidence as to how you fund the repayments.

With regards to an extension much would depend on the reasons behind the extension of the term request and your current credit status profile.