Mortgage for older person

roger_2-2

Hi Everyone,
Does anyone have any info on the above subject. I have recently returned to the UK after spending the last 30 years in the Far East and am now looking at buying something small in Lancashire.
How important is age when applying for a mortgage.????? I am 63.
Thanks Roger

herbiesjp

It really does depend on how much you want to borrw and for how long. The most important factor though is the affordability to you. It's all very well be able to get the loan, but if you cannot afford it, then you would be causing yourself problems.

Most lenders have a minimum term of 5 years with a maximum age of 65 for the mortgage to complete, so this would eliminate a lot of the market for you.

Would really need more details of what you are looking to do.

craigb_3

Skipton Wont Look On Age As Long As Your Income Is Ok Now And You Feel It Will Be Ok In Retirement. They Will Also Consider Interest Only If You Desire This If You Think You May Downsize In Future.