Can we remorgage in our 60's?

jennifernil

Our deal with Nationwide is Base Rate minus 0.13%. I think it is still available, but there is a large arrangement fee. We are borrowing £150,000 for 2 years so needed a good rate. We don't actually need it for as long as 2 years so meantime I (as a non-taxpayer) will invest the surplus, earning at least 0.25% above base and use this to pay the interest on the loan. We did the same with the 2 year loan we just finished with Halifax.

jyonda

graysurfer wrote:

We are in our early 60's and wish to raise £10,000 to do some house refurbishments. Our house is paid for but we have been told by a friend that Banks and Building Society's won't give us a remorgage because of our age, I have yet to ask the appropiate institutions , but wondered if anybody could point me in the right direction. Regards Graysurfer

Maybe I'm missing something here, and apologies if I am Graysurfer but why not just get a standard loan? Wouldn't it be cheaper on the fees and much less hassle?

John