Can I get a mortgage at my age

Catbells

I have around £80k which I would like to put down on a small flat in London. I am 58 and also have a lump sum which I am investing with the guidance of a recommended IFA until I retire at which point it will go into a pension investment. Until that time (4 years) I have a private income of £18k pa so won't need to touch the lump sum.

Will I be able to get a mortgage using the lump sum and my main house as collateral?

jockosjungle

Are you looking to let out the flat or is it for yourself?

Catbells

It would be for my use and my children.

DVardysShadow

How much mortgage do you want?
How much equity, % would you have in the flat?
How do you plan to pay off the capital?
How do you plan to pay the interest on an ongoing basis?
How much equity, % and £ do you have in your present property?

Sorry for the questions, but the exact position is not quite clear from your post. If a lender can see you will clear your house easily, and you can afford the interest on the flat, I think that many would be quite laid back about the proposition as long as the LTV looked good enough to sell out without troubling the bank. These questions are more important than your age.

Catbells

I would want about £100k and the flat would be mine.
One of my children would live there and pay half the repayments, I would pay the remainder. Am expecting total repayments on a 15yr m/g to be around £460 for an interest only m/g. I will own my house outright - I haven't moved yet but will be a cash buyer so I assume I will own it outright.