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Interest only mortgage
flufftickler
Posts: 1 Newbie
Hi I’m at the end of my interest only mortgage pymts. I am severely disabled and now receiving NHS Continuing Health Care, to sustain life. I can’t afford to pay my outstanding mortgage. Can I extend interest only terms .
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Comments
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It depends on your lender if they are willing or able. Depending on your age, it may be better to switch to a lifetime mortgage.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Wouldn't this just be kicking the can down the road? I can't see how they would agree to this unless you have some plan to pay the mortgage off, maybe a pension maturing or similar.0
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What was the original plan to pay off the capital sum ?1
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