From: "Tumbleweed" 
Newsgroups: uk.finance
Subject: Re: Minimum mortgage term
Date: Thu, 8 Apr 2004 20:31:25 +0100


"Mike"  wrote in message
news:c52oat$7qq$1@newsg2.svr.pol.co.uk...
> I have 7 1/2 years left on my endowment mortgage. I intend to re-mortgage
my
> property and stay with my next lender for 2 years. I will have 5 1/2 years
> left when I then intend to re-mortgage again.
>
> My question is, do you think most lenders would take on a mortgage with
only
> 5 1/2 years remaining on it?
>
> Thanks in advance.
> Mike
>

Most likely you have an endowment policy and an interest only mortgage,
rather than an endowment mortgage. So the term doesnt really matter for an
interest only, just set the shortest one they do, might be 5 or 10 years but
since you are apparently getting one thats 2 years now, it might be 2 years.

-- 
Tumbleweed

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