Is there such a mortgage?

sandra.b_3

I'm hoping someone can give me some advice. The mortgage on our house is due to end this year. We would like to buy a property elsewhere, either in the UK or abroad, with a view to selling our current house when we retire in four or five years time. We would like, if possible, to take out a mortgage, possibly on our current property which will by this time be mortgage free, and over the next four/five years just pay interest. At the end of this period we will sell our current home and move to the second property. We would plan to use the capital we receive from the sale to repay the mortgage.

As we are both obviously close to retirement age we would not want to take out a 25 year mortgage, but one specifically to end in, say, five years when we plan to sell our current house.

Is there such a mortgage out there anywhere?

herbiesjp

Yes there are.

However eligibility will depend on the actual details of the scenario