proof to pay off interest only mortgage

carol49cat

Eventually we wrote to our lender to say that we had the funds in place to repay the mortgage and would do so immediately if they would offer us a discount for early redemption. They didn't answer! On the due date it was repaid in full. (I'm Tigs' mother.)

Thrugelmir

myfairlady wrote: »

Thank you Thrugelmir. There are a number of different options available to me for repaying the mortgage, none of which will come to fruition until nearer the end of the term, which is why I am unwilling to disclose them to the mortgage lender now.


I am still in two minds as to bite the bullet and sign the form and 'see what happens', or to hold off signing the form.


I guess an answer will present itself soon.


have a great day all.

Choice is yours. Though the lender will continue to write to you for now obvious reasons.

POPPYOSCAR

Just taken out another fixed term.


Lender asked over the phone how we intended to repay at end of term. Told them our investments cover it and they accepted that.


Did not ask for any proof etc.

Thrugelmir

POPPYOSCAR wrote: »

Lender asked over the phone how we intended to repay at end of term. Told them our investments cover it and they accepted that.


Did not ask for any proof etc.

Lenders will be approaching the matter differently. Those with poorer underwriting standards at some point in the past maybe more aggressive in tone. As they'll know who their potentially weak borrowers are.