I am 70 years old and in good health .My mortgage is due to be paid off next March,I require an extention o 2 years .I have never defaulted
Can my mortgage company refuse
Yes, but what you are asking for can be done but will depend on your lender.
some lenders have a strict 65 cut off whereas others are happy to 85 as long as they can see that the loan is affordable.
in the first instance i would contact the mortgage department of your lender - dont bother with the local branch as they cant make that decision and will only call the mortgage dept anyway!
if your lender says no (i'd be surprised if they did) i can assure you that i have successfully placed remortgage cases for clients in your age band and as you are looking at 2 years this should still be in your interest.
this is all assuming your lender hasnt tied you to a deal that extends beyond the term of your mortgage in which case you will have to stay put but equally they will have to give you the 2 years.
i realise that there might be underlying reasons for you looking into this but you will need to act swiftly given how close we are to your current final date.
feel free to get in touch..... | 01.20.11 @ 13:59
As long as you have the income to afford the mortgage, there are a splash of lenders who will lend to you. I have just done a mortgage for a 70 year old last month, and even though it wasn't plain sailing, we managed to get over the barriers in the end.
If you need to talk to someone about this, please feel free to call or email me direct and I can give you an idea of where to go and what to do | 01.20.11 @ 14:02