Age Limit on mortgages

mrs*84

Hi everyone

Just wondered if anyone knows if there is an age limit to getting a mortgage?

My mum is 52 and in full time employment with London Transport as a bus driver. She lives with her partner but the relationship has broken down and, because it is a joint mortgage, the only way to get him out is to sell the house. She will hopefully walk away with £130k profit, but will need to get about a 100k mortgage.

Do you know if any companies will lend to someone close to retirement age?

Thanks

GMS

mrs*84 wrote: »

Hi everyone

Just wondered if anyone knows if there is an age limit to getting a mortgage?

My mum is 52 and in full time employment with London Transport as a bus driver. She lives with her partner but the relationship has broken down and, because it is a joint mortgage, the only way to get him out is to sell the house. She will hopefully walk away with £130k profit, but will need to get about a 100k mortgage.

Thanks

In theory she could get a mortgage to age 70 and beyond but the lender may want assurances that she can continue working past retirement age, and that her licence will allow. Any mortgage would be subject to criteria and affordability

Jaxxb

Hi,
My partner and I have a joint mortgage with my mother with Santander who was 63 when we took the mortgage out - for 25 yrs!
Also, I just rang Yorkshire Building Society 'cos I was looking around to remortgage and they will accept applicants with a max age of 75 at the end of the mortgage term so she should be able to get one from them for a 23 yr term. (and I think their rates are good as well!)

mrs*84

Thankyou for your help x

koexelek

Very few lenders will let a mortgage run past the age of 75 these days.
Only a few of the smaller regional building societies, to my knowledge