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Extending term of mortgage

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  • 09-02-2010 10:58am
    #1
    Drummerboy2
    Registered Users Posts: 888 ✭✭✭


    Just wondering how hard it is to extend the term of a mortgage. Are building societies open to doing this. I haven't got too long to go on mine but am thinking to extending it by a few years.


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    #2
    jimoc
    Registered Users Posts: 634 ✭✭✭jimoc


    Depending on circumstances banks are usually more than willing to extend the terms of a mortgage as it means more interest over time for them.

    However it does really depend on your financial circumstances, age etc and the only way to know for sure is to ask them.


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    #3
    Priapus
    Closed Accounts Posts: 114 ✭✭Priapus


    If you have nearly paid off your mortgage, and you are not too old (like over 65), like Jimoc said they'd be happy to extend your mortgage by a few years. They will be earning more money on it.

    Building societies (&banks) are very willing to do this. Give them a buzz.


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