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Help Needed With Mortgage


shimsham
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Up until recently my wife and myself had a very good credit score,but 3 months ago my wife told she had unpayable credit card/personal loan payments [£30k] which we would have to pay amost £1000 p.m.we have now gone into a DMP

We are both 66 years of age and 6 years ago a mortage broker put us on an interest only mortgage with Southern Pacific-now Acenden but they have told us they wont extend the term of the mortgage which expires in September 2016.

As it stands at the moment we are paying more of the interest than we need to so ineffect the amount borrowed is slightly going down,we have had the property valued with a local estate age who values it at around the £170k mark and the outstanding amount at the moment with Acenden is £73k.

Come September 2016 is where my worries come in,as for obvious reasons i cannot re-mortgage at the moment for Defaults,any help/advice would be most welcome.

 

Regards. Colin

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There is an option that can help must be made with extreme care and advice and that is equity release

to free up some cash,I would suggest having a look at some web sites and then contacting an INDEPENDENT

financial advisor.

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