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‘£46,000 mortgage pensioner needs £300,000 to move’

A pensioner claims she is unable to move home because the terms of her £46,250 mortgage that her late husband and her took out with Barclays in 1998 will force her to pay back almost six times the amount she borrowed, according to the Telegraph.

Shared Appreciation Mortgages require borrowers to pay back the loan – PLUS 75% of the property’s rise in value.

Did you take out a Shared Appreciation Mortgage – tell us your experiences using the comment section below.

0 thoughts on “‘£46,000 mortgage pensioner needs £300,000 to move’

  1. paul freestone says:

    having taken out a SAM mortgage with Barclays in 1998, we were told that the loan was only repayable on sale of the property. We have since found out that my wife has to repay or move should I die before she does. Had we been aware of this , the mortgage would have been taken out in joint names.
    Has anyone found any sympathy towards this eventuality from Barclays ?