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Joint mortgage - age difference?
Comments
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Mobility151990 wrote: »We know facts, you are just assuming. They have said 2 applicants on one application. YOU are presuming that one applicant could carry the entire mortgage, all we go on is what is said and answer. If the income of the 2nd was not needed then logically they wouldn't be on the app...
Now thats a bit of an assumumption(totaly false one), many couples do joint applictions where there is only one income.0 -
When we got our mortgage we were allowed to have the loan till the younger was at expected retirement but there is a review clause on the older hitting 65.0
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Mobility151990 wrote: »We know facts, you are just assuming. They have said 2 applicants on one application. YOU are presuming that one applicant could carry the entire mortgage, all we go on is what is said and answer. If the income of the 2nd was not needed then logically they wouldn't be on the app...
:rotfl:
I'm a Joint Applicant on our mortgage... my financial contribution - £0 - it is still a joint mortgage
OP - I'm not sure tbh, had a look at our lender's website to see if it was obvious but nothing. From what I can gather from nosying around though is that there are financial institutions who lend later in life than others
This article looks promising though:
http://www.telegraph.co.uk/news/uknews/1546590/25-year-mortgage-for-a-man-aged-102.html
:silenced:0 -
Vegata - There is obviously a lot of debating here about the how's and the why's. You really need to speak to a broker. You can approach different lenders all day long and get different answers. You might as well take an hour with a broker who will do it for you. Not enough details on your post to give a decent answer. You need to run through a full factfind and get the best advice possible. There seems to be information from somebody who works for a lender who is quoting that lender's rules. This may well be correct for that company but there are many lenders out there with many options.
Good Luck with your search.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Just found this:
http://www.lovemoney.com/news/the-property-ladder/lending-to-older-homeowners-1772.aspx
It's an old article so criteria will more than likely have changed but it does name some organisations:silenced:0 -
Either way, good luck, not going to continue talking on this topic.0
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