Mortgage term coming to end.

desamax

Hi 62 year old M  my mortgage term of 25 years is up at the end of this year. I have an interest only mortgage and owe about 20% of the value Of my home. Due to CV19 my investments have fallen drastically in the past few months, I was hoping to use to pay my mortgage off. I have income from commercial property Rentals, I’m not looking to retire, is it possible I can extend the term? My current lender don’t seem to want to know. 

Thanks for reading. 

Sistergold

Yes you can remortgage and maybe convert it to repayment so that you can now pay it off? My mortgage was allowed to go over 70years and I understand some go even further. 

Good luck 

getmore4less

details?
There may be a lender 
Many stocks have been steadily recovering by the year end the picture could be very different as some companies are going to come through this a lot stronger(some will wonder why they needed to employ so many people in expensive offices)
Current lender?
A broker may be able to present a case or know if they are a lost cause and you need to move on.