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Ways we can help
We may be able to extend your mortgage term if you have a repayment mortgage and need longer than the existing term to pay back the balance or outstanding arrears.
Important information about extending your mortgage term:
- Paying back your mortgage over a longer term means you’ll pay less each month. However, because you’ll be paying off your mortgage for longer, you’ll pay more interest and so end up paying more overall.
- How much you can extend your term by will depend on factors such as your income, age and your chosen retirement date.
- You need to consider whether you can afford to pay the mortgage over a longer period, particularly if this goes past your retirement.