Uncle Spielberg
Well-known member
I know there should be enough equity in properties that have both started with a decent deposit and gone through decades of price rises - I'm asking about the mechanics of when the property owner leaves it to the last minute, and then the mortgage is due to be repaid. How much time do they have, what interest do they pay in the meantime etc?
Well they have plenty of notice so as long as they market it in time, it will sell at the right price or if their lender will not extend the term they can, criteria and personal circumstances allowing, re mortgage to another lender who will lend to a higher age