Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 3 weeks ago 35
My first Mortgage Express mortgage comes to an the end of its term September 2018 (it had a 20 year term from 1998). Then there is a batch due to come to term in 2022, 2023 etc. What worries me now and then is whether MEx can say when this one comes to an end and I pay it off – either with savings or by remortgaging in 2018 – that I have to redeem all the rest.
I did try to remortgage 5 away from them earlier this year and I thought they’d jump at the chance but they didn’t. They said something like 17 out of the 30 with them would then not meet the LTV requirements and that I would have to pay for valuations for all of them and pay the amounts needed to bring down the LTVs. But I am hoping that a mortgage coming to its term and being paid off is different to redeeming a mortgage.
Can anyone throw any light on this?
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