Lifr time mortgage

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Post by hara » Sun Jun 17, 2012 12:52 pm
Dear all.
I have completed my IVA about two years ago.
I have a mortgage of 250000 pounds and paying 1200 pounds per month in interest only payment, which will end in about 5 years time.I can take retirement and pay off some of the mortgage.
I am not what the propert is woth now, may be about 260000 to 300000 thousand.
1)I am seriously considering Life time Mortgage,is it possible? I can take retirement and pay off some of the mortgage, will it help in getting a lifetime mortage?
2)I am not sure if the existing lender will extend my mortgage, it would help if they can extend id for another 3 to 5 years.I can take early retirement and reduce some of my mortgage.
3) I am really interesred in Life time mortgage.Can any one give an opinion and what interesr I may have to pay and realistically, how much do I have to reduce my mortgage to?
4)There is a possibility that I may be able take early retirement and go back to work?
5) At present I am left with a surples of about 300 pounds after paying for all.


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Post by Niobe » Sun Jun 17, 2012 1:18 pm

I've no idea what a lifetime mortgage is so can't help you there.

There is a mortgage consultant on the forum who could give you some advice, his name is Ryand and his details can be found via the 'Ask a Question' link on the left hand side of the page. Give him a ring for some free advice.


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Post by Skippy » Sun Jun 17, 2012 2:27 pm
Hi Hara it's good to hear from you again and I hope you are well.

I can't help you with your question but as Harpic says give Ryan a call.

Good luck.
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