Changing term of mortgage (The Coventry)

Options
absolute0
absolute0 Posts: 157 Forumite
Name Dropper First Post First Anniversary Combo Breaker
edited 10 March 2018 at 10:10PM in Mortgages & endowments
I've been informed that the term of our mortgage can be changed at any time without incurring any fees (we are with the Coventry).

Does anyone know if there are restrictions in doing this?

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Name Dropper Photogenic First Anniversary First Post
    Options
    The lender will perform an affordability check before agreeing to the request.
  • silvercar
    silvercar Posts: 46,967 Ambassador
    Academoney Grad Name Dropper Photogenic First Anniversary
    Options
    Do you mean that you can change the payments in order to clear the mortgage early? (Rather than formally change the end date of the mortgage?)
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards