End of Mortgage Term

Posted on 31 January 2011 by monkman


My mortgage is at an end and my mortgage provider says they will not extend it.  Will they evict us?

Anne,

It is possible that your Lender will apply to the courts for a repossession order and if successful this could lead to your eviction. They would have to prove that they have exhausted all possible solutions but this doesn't mean you can just sit back and not take some responsibility for what happens to you.

If they are now demanding repayment of the mortgage then you need to raise the money to do this. If you have not made the necessary investment required to be able to pay off the mortgage you will need to either find another mortgage Lender who would be willing to take on the mortgage for you or sell the property.

I recommend that you seek independent legal advice without delay and also speak to an independent mortgage adviser about the possibility of arranging a remortgage.

Peter

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