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Shortfall on Term Expiry
RANDALLR
Posts: 1 Newbie
Hi, I am a 72 year old very close to the end of the mortgage term with a shortfall of £28000.00 and am looking for advice about what sort of vehicle to use to pay the remaining amount. I have made lump sum payments as far as i am able to do so but still have this debt and I am on a fixed income.
0
Comments
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Depending on the valuation of the property, you should have quite a few options including Equity Release or Retirement Interest Only Mortgages. Then if you have surplus money to make lump sum reductions, you can do so.I am a mortgage broker and IFA. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice0
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