Extending mortgage term beyond 65?

Grannie1952

My mortgage ends in 2016 when I reach 65. I'm unable to repay the balance owing due to being widowed and raising my grandson on my own. My grandson is now at university. I would like to remain in our home for the next 3 years while he finishes his course. I'm considering asking if I can extend my mortgage term to age 70. Is this feasible? Has anyone else requested this and been successful?

AMILLIONDOLLARS

Have a word with your Lender, you will have to have proof that you can service the Loan.

AMD

dimbo61

Have you got a repayment mortgage?
Are you paying down the debt each month?
How much do you owe?
Will you get a works pension? State pension at 65? Do you get a widows pension now?
You lender will look at all of this so if you can use "whatstheocost" to work out how much each month it would cost to repay the mortgage over 7 years( 2014-2021) when you reach 70.
Ask if you can extend the mortgage until you are 75 ( you can only ask!)

Grannie1952

Thank you for your replies. I will only have a state pension and my mortgage is interest only. I'm never going to be able to repay the balance (so will have to sell eventually) but I'm hoping that the mortgage company will extend the term for a further 3 years beyond my 65th birthday. I'm just so worried about writing to the mortgage company and getting turned down. Silly I know.