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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I have an interest only mortgage with Halifax which has come

Resolved Question:

I have an interest only mortgage with Halifax which has come to an end. I have never missed a payment and the amount of interest is debited from my account by direct debit. Now Halifax is refusing to extend my term. I have already advised them that I have investments in place that will pay off the entire amount of mortgage in three years time i. e at the time of my retirement. I shall be grateful if you can let me know that despite the investments in place, the value of properrty increasing by 40%, not having missed a single payment, if Halifax can refuse to extend my term. Thank you and kind Regards.
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

I am afraid Halifax has the discretion whether or not to extend the term of your mortgage even though you have a very good record with them.

Everyone is expected to comply with what they signed up to, so the fact that you have mjet all your mortgage conditions to-date does not entitle you to force Halifax to extend or vary the terms of your mortgage I am afraid.

Sorry, this may not be what you wish to hear but I can only advise you in accordance with the legal position.

Hope this helps
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