Barclay's End of term , forcing me to pay off loan

Thrugelmir · 10 November 2015 at 2:32PM

Leecus wrote: »

Last years financial number were low, as I took 9 month off but the previous 5 years were very high. They have chosen to only use only last years, not even an average of two or three years

From a lenders perspective they won't be interested in why your income was low just that it is. Continuity of income is a key factor. Difficult to establish a reputation but very easy to lose one when in business.

Keep_pedalling · 10 November 2015 at 3:58PM

You already think the house too big, so it I would pull the downsizing plan forward. Downsizing plans often keep getting pushed back till it is too late, so maybe current financial circumstances are pushing you in the right direction and a little later down the line you will be thankful they did.

Goldiegirl · 10 November 2015 at 4:48PM

The solutions seem to be remortgage with someone else or down size now. The mortgage term is coming to an end, and Barclays want their mortgage repaid. In a previous era, they'd have probably converted you to repayment and extended your term with no questions asked, but these days you have to comply with their current lending policy - if they don't want to continue to lend to you, you can't force them, unfortunately.