For many of us who took out a Mortgage in the 90’s the end of the term is coming. For some, this is a cause for celebration as they will pay their final mortgage payment but for others who took out an interest only mortgage, it can be a worrying time.

If you have an Interest Only mortgage, your monthly payments have simply been paying the interest but have not reduced your loan balance (unless you have been making overpayments to purposely reduce the balance of your mortgage). This means that at the end of your agreed mortgage term, you need to repay your loan in full. Hopefully you have a plan in place but if not the sooner you act the better.

Fortunately there are options available but of course the longer you leave it and the older you get so the options reduce. At Mortgage Required we are experts in both Standard Residential Mortgages and Equity Release.

There are now also “hybrid” deals for those applicants who find themselves too old for a standard mortgage and too young for Equity Release. This means we can discuss the whole market and find the best product for your individual needs.

For a free appointment just click here or give the team a call 01628 507477.

Your home may be repossessed if you do not keep up repayments on your mortgage.

There will be no fee for Mortgage Advice. There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, but we estimate it to be £399.

Mortgage Required Ltd, Finance House, 5 Bath Road, Maidenhead, SL6 4AQ is authorised and regulated by the Financial Conduct Authority reference 573718 at www.fca.org.uk.

The Financial Ombudsman Service is an agency for arbitrating on unresolved complaints between regulated firms and their clients. More detail can be found on their website: www.financial-ombudsman.org.uk

Call: 01628 507477