Expired Mortgages

Call 0800 298 0571 or complete the form below

Expired mortgages are a growing problem across the UK. In particular, many interest-only mortgages are coming to the end of their term and lenders are refusing to extend them. This is leading to home repossessions.We specialise in helping and advising homeowners in this difficult situation. We are dedicated to finding a solution that will stop the repossession of your home.

My Mortgage is Ending Soon – What Do I Do?

  • Contact Your Mortgage Lender

    This is the first step you need to take. Without a dialogue between you and your lender, there is no chance that your situation will get resolved. Lenders are advised to encourage consumer engagement and allow you to consider your options.

  • Apply for an Extension

    Applying for a mortgage extension is the most obvious solution to an expired mortgage. However, the lender is under no obligation to extend your loan term. Depending on your borrowing profile, the equity you have in the property, and other factors, your lender could reject your application.

  • Contact HMS

    We are here to help at any point in this stressful process. Whether you have been rejected for an extension or your lender has already moved to repossess the property, we will work to find a solution that will keep you in your home. With years of experience in helping homeowners with expired mortgage terms, you will be in safe hands.

Get Instant Expert Help Right Now

  • DD slash MM slash YYYY
  • Hidden
  • Hidden
  • I am happy for you to contact me with the details provided. Data Privacy & Terms
  • This field is for validation purposes and should be left unchanged.

We help save your home by stopping your eviction, helping you clear your arrears negotiating with your lender.

The Interest-Only Dilemma

We have encountered many homeowners who mistakenly believed that their mortgage would not expire as they are only paying interest on their loan. In reality, even though you are not paying off the actual loan, there will still be a date when the contract ends and the whole loan must be repaid.

This is also the case when a repayment mortgage has any arrears outstanding or charges that have not been paid. When the loan ends, the whole amount becomes payable.

The Expired Mortgage

The expired mortgage has become a worrying feature of the UK property market in recent years. The term refers to when the time frame your lender has given you to pay off your mortgage debt has come to an end. If you agreed upon a £100,000 interest-only mortgage for 20 years and that time has passed, you will now need to find £100,000 to pay off the capital.

Once the contractual end date for the mortgage arrives, everything changes. The lender now has far more power. To recoup the debt you owe, they will likely take repossession action against you through the court. Even if the judge understands your plea for more time, he will lack the legal authority to intervene unless you have a very specifically laid out defence.

Get help today

The Credit Crunch and Interest-only Mortgages

The increasing amount of expired mortgages is largely down to the 2008 credit crunch. In particular, how this financial crisis affected the interest-only mortgage model.

Before 2008, interest-only mortgages were very popular. This was because many lenders did not require customers to prove how they would repay the loan. After the financial crisis, much stricter lending criteria were introduced. Tighter regulation now means that some people who were advised to take an interest-only mortgage are now being refused extensions at the end of their term. Instead, they are being asked to repay the capital. This includes:

  • Homeowners with no “repayment vehicle”. You now must prove how you will repay the loan e.g. through the sale of another property, ISAs, endowment policies etc.
  • Homeowners with bad credit on their file.
  • Older homeowners. Some mortgage lenders will not deal with customers over 75. However, the FCA has relatively recently introduced retirement interest-only mortgages to combat this age-based discrimination.

We help save your home by stopping your eviction, helping you clear your arrears negotiating with your lender.

Available Solutions

Each lender will tackle the expiry of a mortgage differently, and a lot depends on how you have managed your account. By the time they contact us, most homeowners have already been refused an extension of their mortgage term by their lender. Importantly, there is no standard policy on mortgage extensions and lenders are well within their rights to refuse one. The FCA state:

“We recognise that customers are responsible for repaying their mortgages, repayment of the capital at the end of term is a contractual requirement, and that firms are not obliged to offer options at maturity.”

That said, lenders are told to treat repossession as a last resort. They first need to explore all other possible options. HMS can assess the structure of your mortgage and identify what your options are moving forward. From here, we will devise a tailored strategy that aims to keep you in your home.

A lot of homeowners do not contact us until the lender has taken eviction action. We have the knowledge and power to stop the eviction, but we cannot help you unless you call us.

What people have to say about Home Owner Management Services

I was at a total loss at what to do with my situation, having been a mortgage broker, I was convinced I had the ability to talk to my lender and negotiate however; nothing I could offer was good enough!

They explained the process to stop the eviction and when it all came together it was like a case of De Ja Vu, it went EXACTLY as they said it would. They got me enough time to save up my deposit to go and rent, and I just let the lender have the house because I had negative equity anyway.

I am now back to a comfortable state of living and have no stresses anymore. I didn’t have to borrow any money from anybody because I didn’t have to pay the mortgage while I was saving up for my rent.

The best part was having the ability to remove my belongings at my own pace, and it not being done for me! I didn’t need to arrange storage or anything. I cant begin to express how grateful I really am!

Mr L

I really can’t thank you guys enough. I was certainly headed for another breakdown, however, the sheer weight of your support saved me from despair and I am sat at home nice and  warm, in familiar surroundings thanks to you.

I can’t believe, looking back, how much time I wasted trying to convince the lender to let me stay, so many documents and offers, my only regret is honestly not phoning you sooner.

Mrs M

I really had my head in the clouds as I believed I now had no where to turn. I had already made my appointment with the council to assess me for emergency housing. However my council said they could only find me a hostel to stay in. 1 call to Aggressive Lender Solutions and I no longer had a problem.

They resolved the Eviction order in a matter of days, giving me every confidence that they could achieve it, every step of the way. I don’t know where Id be if they didn’t help.

Mr B

Thank you so much for your help. We can now keep our home for the long term. We now have to pay our Lender a monthly payment we can finally afford after a year of turmoil. The hardest thing was unpacking all the boxes we had already packed because we thought there was no hope.

Everything you did for us was so quick and professional, our home was saved before we knew it, it took some time to sink in, but they really did achieve what we thought was impossible. In less than 24 hours of phoning them the eviction order was cancelled.

With the weight off our shoulders we can concentrate on living again and earning the money we need to pay the mortgage without living in fear of the Bailiff knocking on the door with an eviction order!

Mr & Mrs J W

It is never too late to contact us, even if your eviction is only an hour away. Call 0800 298 0571