End of mortgage term

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T
Tricky
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Please could you let me know if anyone has an idea what would happen in this situation ?

1. A ten year interest only mortgage is due to end in three months.
2. The mortgage lender has stated that they are no longer in the mortgage market and has no products to replace it.
3. The property makes a profit of around 200 per month after the mortgage is paid.
4. The mortgage balance is more than the property value.
5. The credit rating level is poor.
6. The mortgage holder is 50 years old.

As the property makes a monthly profit what would happen if no action was taken at the end of the loan period ?

Thanks
18/03/2015 17:21

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