Mortgages and age question

Patmoore

A quick rundown of my scenario. I've been told I can get a mortgage for about £135k, plus deposit of 40k.

Paying Interest only is affordable, however Repayment would see me a bit stretched.

My mother has asked if she could get a joint mortgage with me, she however is 62. How much of a stumbling block would this be?

Alternatively, she has said she would guarantee me £250 per month, which would solve the repayment option issue. However, would a lender deem this additional money acceptable if it were made official by a guarantee?

canny_yorkshireman_2

why not take an offset option intrest only but make the overpayments into a savings plan linked to the mortgage and in this way you can repay the savings plan and benifit from lower intrest on the loan
hth

Patmoore

Hmmm, I'm sure thats a great idea and it's much appreciated. Alas I'm that clueless about half of that, so I'll research into it.

Thanks again