Extend mortgage

Mick1927

Hi
New to this site looking for advice ,
My mortgage comes to an end in 18 months after 14 years ,
Can you extend a repayment mortgage term?
I'm with Barclays paying an interest rate of 1.4% ,I'm looking to do some major house improvements ,new roof etc and was hoping to add to my mortgage balance

Thrugelmir

Unlikely you'll be granted an extension based on your existing mortgage product. Nothing to stop you applying for a further advance though to undertake the works you've listed.

Retired_Mortgage_Adviser

Subject to a lot of other dependencies (age, affordability, etc), yes it may be possible to extend the term of the mortgage while increasing borrowing.

You may be able to do it with your current lender or by remortgaging to a different lender. Both routes will involve advice and full affordability checks.

I would recommend talking to a broker to see what your options are at this point.

of

Mick1927 wrote: »

Hi
New to this site looking for advice ,
My mortgage comes to an end in 18 months after 14 years ,
Can you extend a repayment mortgage term?
I'm with Barclays paying an interest rate of 1.4% ,I'm looking to do some major house improvements ,new roof etc and was hoping to add to my mortgage balance