Mortgage going into retirement age?

_Andy_

andrewmp wrote: »

. Just like you and your "thanks" buddy _andy_ do.

Absolute genius.

Wutang_2

andrewmp wrote: »

I wish you would learn to quote.

I can post my opinions as often as I like. Just like you and your "thanks" buddy _Andy_ do.

Are you by any chance, about 11 years old?

_Andy_

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amersall

andrewmp wrote: »

The lender won't even know that the borrower may be planning to retire at 55. People do actually change jobs now and again you know? The job he is doing when the time comes might not force him to retire at 55 anyway.

Do lenders even ask you when you plan to retire? I know mine didn't and I'd presume others don't either.

The document in your link mentions nothing about mortgages not running past age 55.

Either way Vigilant22, no need to be so rude - again

i agree here, we were never asked when we were retiring, and we have had 3 mortgages. they were just done to 65.

andrewmp

amersall wrote: »

i agree here, we were never asked when we were retiring, and we have had 3 mortgages. they were just done to 65.

At least I'm not alone.

andrewmp

VIGILANT22 This message is hidden because VIGILANT22 is on your ignore list.

That's better!

Hopejack

Revisiting this as I didn't feel like I got to the bottom of it due to a bit of a 'tit for tat' going on....

Anyway, can anyone tell me if we will have an issue applying for a 25 yr mortgage knowing that the last 6 years are going to be past DH's retirement age? Also, it's only a two year deal, so what happens when we go to remortgage - will we have problems again as he will be 2 years older? Sorry, might seem a dumb question but I've never had to remortgage so have no idea how it works!

Also, I'm concerned as we are having to apply for the mortgage over the telephone as we can't get into a branch together during the week and can't get a Sat appointment for about 4 weeks! I read on here that if there are any 'anomalies' regarding your application that it is better to do it in branch as they are more likely to help iron things out with underwriters as opposed to a 'telephone' operator....

Any help would be appreciated.

PS - In reply to the statement above about them not even asking about retirement age when applying - yes they do or I wouldn't have asked for advice. I think most lenders as someone pointed out, have to lend responsibly and ensuring you can pay off in retirement is one of the things they have to look at these days.