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Interest free mortgage ending .. advice appreciated

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Hi, 

 

My mums interest free mortgage is due to end in 3 years time. The mortgage was taken out by her and my dad but my dad moved out years ago and they are now divorced. The house is currently worth approx. £135000 with £105000 outstanding. My mum is 59 and earns approx. £18k per year. It’s highly unlikely that they would change her to an affordable repayment plan especially as she has a ccj.

 

My husband and I would like to purchase the house but are unlikely to be able to do so for another 5/7 years due to negative equity in our own home. Therefore ideally we would like the mortgage company to extend the term on my mothers mortgage for another few years. What is the best way to request this and what should she say? The mortgage company are unaware of the divorce and my dads name is still on the mortgage despite him having had nothing to do with it for approx. 10 years. He does not want anything from the house. 


Thanks in advance. 

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Hi.....I have moved your topic to the appropriate forum ....Mortgage companies  please continue to post here to your thread.

 

Regards

 

Andy


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