Mortgage advice for retired parent

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Lumox75 Posts: 11 Forumite

11 November 2010 at 6:45PM in Mortgages & endowments

Hi,

I was hoping I could get some advice on mortgage options for my father who has recently retired at 65.

He has a tracker mortage with Halifax of £26,000 over 16 years. It's base rate plus 3% and he is currently paying £180 per month. The house is worth roughly £180,000.

With interest rates rising in the (near?) future I was thinking that moving to a fixed rate mortgage may be a better option for him as I'd hate for him to get stung.

What are his options and are there any implications regarding him being retired?

Thanks very much for any advice

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Mortgage advice for retired parent

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