We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Self Cert for older people?
UsFour
Posts: 11 Forumite
Hi
Hope somebody may be able to help with my problem
Need to move - probably get approx 150K for my house - want to move to nicer area so am looking at buying in 225K range. With house sale and savings could probably raise £170 deposit - therefore would need 55K mortgage. However am 60 years old and only have just over 1K per month coming in - is it possible to get a self cert mortgage with minimal income at my age?
Anybody have experience of something similar or should I just rent?
Thanks in advance.
Hope somebody may be able to help with my problem
Need to move - probably get approx 150K for my house - want to move to nicer area so am looking at buying in 225K range. With house sale and savings could probably raise £170 deposit - therefore would need 55K mortgage. However am 60 years old and only have just over 1K per month coming in - is it possible to get a self cert mortgage with minimal income at my age?
Anybody have experience of something similar or should I just rent?
Thanks in advance.
0
Comments
-
Why do you think of self cert as your first option? There may well be status lenders that could look at agreeing the loan for you depending on your circumstances.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
-
Think you may be worrying too much. Go and try for a normal morgage first, don't forget they hold the deeds so have a guarantee of their money anyway. I've known people well into their seventies still paying a mortgage.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards