Monthly Archives: August 2021

What to do when you fixed rate mortgage comes to an end

Mortgage Term Coming To An End – What to do ?

What to do when your Mortgage term comes to an end

What to do when you fixed rate mortgage comes to an endManchester Mortgages in the last month have received 3 enquiries where clients mortgage have come to an end.

2 of the enquiries were for Buy to Let mortgages the other was for a residential mortgage.

Not the fixed rate/ Variable rate had ended but the lender requires the mortgage debt to be repaid in full.

This may not seem to be a problem but the mortgages were originally arranged on a interest only basis with no means of paying the capital with a lender who had taken over the debt when Bradford & Bingley sold their mortgage accounts in 2009 and the current lender was not willing to offer a new mortgage.

This was causing concern to our clients when we received the telephone call.


The adviser from Manchester Mortgages was able to ascertain all the facts and circumstances and after research was able to make a recommendation to the clients by extending the mortgage term by moving the debt/mortgage to another mortgage provider.

As the original mortgages were arranged on a interest only basis the clients were given the choice of either arranging on a Capital & Interest basis or continuing on an interest only basis.

The clients had also benefitted from the fact that in 2020 house prices had increased significantly as well as there being a significant increase in rents obtained.

In all circumstances they were able to benefit from a significant reduction in the mortgage interest rate payable.


There are lots of people who are in the same situation as our clients and are simply putting off the problem.

Manchester Mortgages will undertake a full review of your situation and provide options available (Subject to Status).

This will then give you time to consider your situation other than simply selling the property to pay off the debt.