Mortgage Express Buy to Let end of term issueMake Text Bigger
I have 3 Mortgage Express buy to let’s. They were taken out in 2005 for 10 years interest only (although I have been repaying capital) When they were taken out in 2005 I was told by M/E that there would be no problem renewing them at the end of the term should I wish to do so.
This is now not the case and Mortgage Express want to know how and when the mortgages will be repaid. Short of selling one of the properties which I do not want to do, I can raise just over 85% of the outstanding Mortgage sum.
Has anyone experience M/E’s policy under these circumstances, will they take an offer or push for one of the properties to be sold. Each mortgage will have in the region of about £8000.00 outstanding when I pay 85% off.
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