Surely I am not the only landlord worried about new EPC requirements?9:44 AM, 17th February 2021
About 2 weeks ago 126
I read with interest Dene’s post in respect to exceeding the term, repossession by NRAM and his regrettable position.
9 years ago I took a 10 year term mortgage at 0.5% above base. This was arranged direct with Woolwich over the phone –a different era!
This is a substantial interest only mortgage which my then income comfortably supported. Unfortunately that is no longer the case. I had a brief conversation with the Woolwich call centre and asked whether this could be extended even if it was on a standard variable rate – the answer was no.
I have never missed a payment and the loan to value ratio is circa 30%. Of course I can sell and use the equity to purchase a smaller home, but I love the house and would be sorry to have to move.
I can’t recall receiving any specific advice over the phone at the time although the paperwork probably has reference to making provisions to pay off the loan.
I would welcome any suggestions from members how I might be able to remain in my lovely home.
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