The house is currently valued at £200,000.
The product they have is called Fixed Rate Lifetime mortgage
My Father in Law is still alive, but with dementia. He is 88 years old. We are in the process of getting Enduring Power of Attorny.
It had been his intention to sell the house in order for him to go to a warden assisted flat nearby. Now that we have found this, we have no idea what to do.
I am considering adding the debt to my own mortgage, just to stop it accruing interest. We worked out that last year, it was £22.96 per day interest.
I phoned the company to try and negotiate a different interest rate, but they said that the interest is fixed until it is paid off.
The anxiety is eating me and any advice would be very greatfully recieved.
Submitted September 02, 2018 at 10:16AM by captain_lechuck_ https://ift.tt/2NCCHd3
