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How can I pay off outstanding amount on my mortgage

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mumataylor
mumataylor Posts: 1 Newbie
edited 7 June 2018 at 1:43PM in Mortgages & endowments
I have just 3 years left on my mortgage and as it stands at the moment £50,000 to pay back. I became a single mum in 2005 and had to pay the mortgage on my own so went for interest only. I have now remarried but have no idea how we might pay this off other than selling the house worth around £300,000. Any advice?

Comments

  • sal_III
    sal_III Posts: 1,953 Forumite
    Fifth Anniversary 1,000 Posts
    Remortgage for longer than 3 years with a suitable monthly payment that you can afford be it interest only or repayment and use the money to redeem your existing mortgage.
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    You should be able to get a mortgage with a LTV of 16% on a repayment basis surely ?

    How many years left till you and or your husband retire?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You'll have options. Though the lack of information in your post means it's impossible to say what they might be.
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