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Different Attitudes !!
moonrakerz
Posts: 8,650 Forumite
in Loans
I am 63 and fully own my home. I wished to raise some capital against my house; a conventional interest only mortgage appeared to meet my requirements.
I approached several financial institutions:- these were the results.
A. Offered me a 40 (Yes - 40 years !) year repayment mortagage.
B. Offered me interest only loan for 11 years (to age 75).
C. Couldn't offer me anything.
I won't name the institutions involved, but..........
1. Is a "middle of the road" building society.
2. Is a PLC which has had billions of public money put into it to keep it afloat.
3. Is a PLC which has had no public money put into it.
Match them up !!!
I approached several financial institutions:- these were the results.
A. Offered me a 40 (Yes - 40 years !) year repayment mortagage.
B. Offered me interest only loan for 11 years (to age 75).
C. Couldn't offer me anything.
I won't name the institutions involved, but..........
1. Is a "middle of the road" building society.
2. Is a PLC which has had billions of public money put into it to keep it afloat.
3. Is a PLC which has had no public money put into it.
Match them up !!!
0
Comments
-
It is normal to only offer mortgages to age 75.
There are other products available for your needs - consult an independent financial adviser.0 -
1=britania
2=northern rock or halifax
3=barclays
?0 -
-
B has to 'b' RBS/Natwest.
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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