no signed contract

davidmcn

randj123 wrote: »

Because i had a interest only mortgage and dont have any thing in place to pay off the mortgage at the end of the term i told them this when i took out the mortgage i only have 5 yrs left and im worried sick

Ok. I don't see what makes your signature (or lack of it) relevant. You obviously know you have a mortgage, given you've been paying it for 20 years. Presumably you get statements showing the balance isn't going down, and anyway you've acknowledged that you knew from the start it was interest-only and you'd need to pay it off at the end. At least you've got another five years to sort something out.

Farmer_Johnson

randj123 wrote: »

Because i had a interest only mortgage and dont have any thing in place to pay off the mortgage at the end of the term i told them this when i took out the mortgage i only have 5 yrs left and im worried sick

What do you think the signature, or lack thereof, has to do with you not putting a repayment plan in place?

This will have been your choice, you’ve been paying less than you would have on a repayment mortgage and it’s up to you to organise how you’ll pay it off.

Changing to a repayment mortgage now could be a good idea.

Thrugelmir

randj123 wrote: »

Because i had a interest only mortgage and dont have any thing in place to pay off the mortgage at the end of the term i told them this when i took out the mortgage i only have 5 yrs left and im worried sick

Then you need to take action immediately. Start overpaying by whatever you can afford. Your destiny is in your own hands.

elvin67

Oh thanks for making this thread it really helps a lot