New mortgage options with Ptsb

[wgreer1976]

My current rate with Ptsbte is up at the end of the month.
Variable rate is 4.34 and next is 2yr fixed at 7.25.
The variable repayment is 1200 per month and fixed is 1600.
Basically the variable is the only option but still more than I can afford.
I am just finishing a 6 month interest only period and need to bring this down.
We have 210k left to pay and have 23yrs of a30yr mortgage.
Is my only option to look at extending the life of the mortgage back to 30 yrs to bring the payment down again

 

[Luternau]

You could look at that -provided 65, less your age(s) is 30 or more yrs. At age 65 has to be the last year of the mortgage. That used to be how they looked at restructure/extension.